I would suggest that the current economic crises are a massive ocean swell on which WFH is a tiny ripple.
Are some city cafes likely to go under because people aren't coming into the office? Probably.
Are people being forced to eliminate every single discretionary expense so they can pay their bills and eat in the same month? Yes, absolutely. Are some households only surviving because WFH is letting them avoid transport expenses, and reduce food costs? Also yes.
Our mortgage + insurances + rates + mobile/internet + utilities + basic food = almost what we're bringing in this month. And the last payment on the bathroom reno we started five interest rate rises ago will probably be due this month too.
So, define "economy". This bit of the economy would probably run out of money to put fuel in the car if I couldn't work from home.