The WFH crowd wishes. Corporations are not logical in this way. They are far more concerned with enforcing their own culture than they are with the expense of their real estate which is, after all, both an investment and a tax write-off.
Over time in a perfectly spherical market, companies outsourcing their office costs to employees will be able to charge less and thus win more custom thanks to the invisible hand.
Of course large companies have further inefficiencies, where middle manager incentives are not aligned with those of the board, which are not aligned with those of the owners (all of which boils down to management layers being unable to reliably measure the worth of the layer they manage)