The RTO/WFH struggle is clearly about money (what else could it be about in a corporate world?), and it's fascinating to watch some companies chew their own limbs off (metaphorically speaking) to appease investors-at-large.
Here I speculate, but the pattern seems to be that board members are involved with multiple organizations, and are stakeholders in even more - and those with ties to commercial real estate (and all the funds heavily invested into it) will do whatever it takes to push for higher office occupancy. At the same time, they're doing this (arguably) to a disadvantage to the companies they're supposed to steward - forcing best talent out, paying a premium for half-empty office space, and generally eroding morale by this display of duplicity.
At the same time, I love seeing the quiet resistance by the rank-and-file and even some middle management. The new reality is here, and there's no going back. The % of days WFH has flatlined, and I imagine over time it will begin to slowly but steadily trend back up.