Previously, if you headed up a tech firm in Wyoming, for example, your talent pool was the set of all the residents in Wyoming. You'd struggle to retain your top-end talent and you probably had to overpay to get them to stick around. Even worse, you probably had to donate to the University of Wyoming (read: bribe) to get them to train their students the way you needed them trained.
With remote work, you just scribble out a post on Indeed, wait a week, and then pick the most desperate candidate that has the qualifications you need. If they threaten to leave, you offer a token raise knowing that you could always find someone else if you need.
Everyone learned (the hard way) how to be productive while working remotely
So yes, my analysis is that, because of those fundamental « remote-friendly » changes, companies embracing the new normal can compete in a larger pool, which offers opportunities as well as challenges. Companies - in the IT domain - fighting this trend will only make their life terrible and eventually abide by the new rules (hey Apple! :))