Yes, except this doesn't create the outcome that most people who enjoy in-person work desire.
If I'm the only one in the office and 20 people are working from home, that isn't what I'm looking for. So either I decide if I can deal with it or find a new job. And the company decides whether they can live with it or if they're going to mandate remote work, or mandate RTO.
Pro-WFH people like to portray their stance as clearly right. But there is no right or wrong here. It's a question of what a company chooses to do and then what their employees choose to do.