> the conspiracy theory is that all of these leaders across all of these businesses across the country are either incapable of measuring productivity, or they measured it and see that people are more productive when WFH and yet for reasons unknown want to bring them back into the office

I would argue that the real conspiracy theory is that those leaders have a conflict of interest - they have a stake in the real estate game either: by directly holding interest in real estate that will plummet in value if it goes unused, or by receiving kickbacks or other incentives for leasing certain office space.