Your mileage may vary, but to me that's NO-BRAINER trade off. When you're making hundreds of thousands of dollars, how is an extra 10% really worth the lifestyle downgrade of being trapped in transit for hours each day? To say nothing of the life quality downgrade of trying to do focused mental work in an open floor plan office all day.
I understand the gripes. But location, supply and demand, etc all factor into comp. Companies have to pay more to hire people in San Francisco than they do in Austin, TX because there are more people willing to work in Austin for less money. I imagine that long-term, WFH probably will result in lower comp than in-office work, simply because workers are competing against more people who want that lifestyle.
Personally, after the initial shock and anxiety of the pandemic's first few months, the past year+ has been the greatest and most satisfying period of my career and life overall. I feel anxiety from worrying about the possibility of battles ahead, if my current employer decides to pivot away from remote-first policy next year. I would absolutely, without a moment's hesitation, take a 10% cut to lock in my current lifestyle from now until retirement. If my current lifestyle remains permanent, then I may never retire.