They absolutely are at an advantage in hiring - our data set has remote companies with 5-10x the candidate pool of non-remote ones, even ignoring differences in salary asks.

The question is: are they at an advantage in effectiveness? I think they probably are, but it seems like a reasonably open question, one that we should see an answer to in the coming years. If in five or ten years remote companies aren't crushing non-remote ones, that's going to be pretty strong evidence that there is good reason for in-office work.