Well managed companies don't care where you work, it simply doesn't matter. The problem is that management is a lot harder than many thought, but you could sort of hide the fact that you're bad at it when everyone is at the office. There simply isn't enough talented managers around. We're not solving that by requiring everyone to return to the office, the terrible managers are still terrible.
If anything companies could use this opportunity to identify people with poor management skills. If a team under-performed during the work-from-home period, then it's probably time get their manager some training.