We went all remote during the pandemic, now different people use all three options.
If you’re remote it works well enough.
If you have an office when you’re in the building it works well enough.
If you have to use the cubes it’s a disaster.
You can hear other people in Zoom meetings all day.
You can hear the other people in your Zoom meetings that are in the office twice.
Of course you may have trouble hearing your meeting anyway due to the other meetings, or people standing around talking.
You can’t grab a meeting room for just you. A bunch of people who are in the same meeting can use a meeting room’s conferencing setup. Unfortunately it works very poorly for people on both sides of the call.
Maybe it would be better with taller/bigger cubes. Or sound deadening foam. Maybe not.
Straight hybrid, without doing anything different to all in office, does not work. And I don’t think many companies would invest that kind of time/capital even if it would improve productivity.