Here's my hot take that's not actually that hot, I'll start with an analogy every engineer should agree with:
There is a sweet spot for "amount of process" that makes individuals and teams the most productive. Note, I didn't necessarily say happiest, and the productivity may not be sustainable indefinitely but we all know there is a certain sweet spot. Too much process kills productivity. "Can I just please leave this fucking meeting and start writing code?". No process also sucks. "Oh shit, you built that API? I thought I was supposed to be building that"
But just the right amount unblocks everyone and lets teams build stuff efficiently.
The trouble is "the right amount" is different by person, by team, and by project. So the most important thing of any process is to have it be constantly re-evaluated and adjusted as the team and work evolves. But I think we've all been there on a team when things just glide and try to recreate that for the rest of our careers.
I think the same is true for remote work vs in-office work. Sure, on the right task working from home is positively ethereal compared to an office filled with interruptions. But on a long enough timeline, and especially if you are part of the creative process of engineering (ie not just "converting requirements into code" but helping define the requirements, and contributing to the full product, which good companies incentivize their engineers to do), then you do want to be in person with your teammates for at least part of the time. Juniors need access to Seniors to ask questions sitting next to each other or even pair programming. And there is nothing quite like iterating on a design with a peer at a whiteboard compared to a remote session.
Balanced effectively by good teams, a mixture of in-person and remote work is probably the most efficient answer for most teams.
The problem is:
1/ It doesn't happen automatically, much like refining a process, figuring out this balance is going to require much tuning and adaptation. And a top-down company-wide mandate for the same process is the opposite of empowering that for teams bottoms-up.
2/ It has meaningful consequences for people's lives - things like where they reside, and how they commute. Whatever improvements come with a hybrid work environment are probably lost by the candidates you lose who refuse to move, and the sacrifices people have to make in the rest of their lives.