As someone new to my organization and team I’ve greatly benefited from a partial rto mandate. There’s something about being able to quickly bounce ideas or questions off a team that physically sits around you that slack can’t quite emulate. There are productive discussions that happen which simply would not have otherwise happened. Teams become closer as they better understand each other and get to know what motivates one another (not always the paycheck, as in OP case). You become more empowered to take a step back out of your daily work and give consideration to the bigger picture when you’re surrounded by other groups.
I’ve worked remotely most of my life and am a proponent of it. I also think moving someone who was hired as a remote employee, to an in-person role, is a huge dick move. But to pretend like there are no benefits to occasionally being in-person seems like naivety bordering ignorance (For most team based roles which require strategic thinking).
Hiring can become a bigger challenge when your competition allows fully remote work, and companies should expect to increase compensation in one form or another, or otherwise lose talent. For some companies, e.g. mine, those steps have been worth taking. Small price to pay to preserve our awesome culture.