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Have you worked in this environment? I have and I agree with the previous comment. You get the low friction interaction of being there in person but then all the people who aren't there get left out. Or you have to do everything on video anyway so there's no point in some people being in person. My bet is in person companies win in the end.

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Even if it's true that in-person developers are more productive, you also have to account for the preference of developers. If developers prefer to work remotely, then the average in-person developer is probably likely to be worse than the average remote developer (since skilled developers will have an easier time to find the more attractive remote positions).

And as we all know, the difference between a skilled developer and a bad one is quite massive.

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