I've been working from home for the last 5 years, and I'm never going back. I get more done, I have more energy throughout the day, and it makes it much easier to put family first (which is one reason I think FANG and others are so afraid -- they lose a little bit of control).
It is most definitely a control thing. Companies are afraid to lose the iron grip they have over the lives of employees.
Jeez, give it a rest. Companies don't give a crap about your life. None have ever showed the slightest interest in anything I do when not at work.