Remote work is turning out to be a requirement for hiring people. So once the company starts bleeding (good) people who find remote jobs with other companies, they are going to be difficult/impossible to replace.
At some point, the execs will have to suck it up and offer remote work.
You need enough buy in from enough companies to actually have a competitive market for remote work. I think things were moving in that direction but slowly (as things tend to do) - COVID just accelerated the trend.
Adjusted for inflation it does look like it was down a bit during last year, but Q1 there seems to be a rise again. What's interesting is that it looks like the Dublin prices have seen a wild 10 years of volatility.