Of course, so many large companies were in the process of building large new buildings / campuses as the pandemic hit, so I can also see this as a way to ensure those large investments aren't seen as a waste.
I've been interested in learning more about the financialization of housing lately and this isn't exactly the same but it feels similar.
Whether meetings are in Zoom or in person doesn’t necessarily change how much effort is expended. It really depends on the team from my experience, not the medium of the meeting.
An unproductive team will have unproductive meetings whether in person or on Zoom.
(FWIW we are 100% remote right now, but there are for sure drawbacks)