IMHO There is negative value in in-person work all the time. There is positive value in occasional in-person meetings with focused agendas. Work remote by default with quarterly or semiannual get together.
I currently work with one day in the office every week and I find to to be perfect. That day is basically "meetings day" and once you accept that you won't get any actual coding done that day it's fine. In person meetings are better and more productive than video calls and packing them all into one day makes the rest of my week much better.
I would prefer not to be tied to a commute distance of an office with a commitment to waste that commute time and energy every week. What works for you personally is very different from a hard requirement for everybody.
To me, meetings day implies a rule that everybody attached to that office is required to be in to have meetings with, but I apologize if I read to much into it.