It makes me wonder if there's a deeper reason besides the real estate thing, that compels CEOs to try to bring workers back to the office.
Consider: If you're at the office, you form stronger attachments to your coworkers. You're more likely to make friends with them and so on. You create bonds. Another way to say this is: you create ties that bind you to your job.
Now, you could use all those extra commute hours to make friends with non-coworkers, and then you don't lose much in terms of social life. But if you did that, you'd want more time with those friends. You'd have bonds that pull you away from your job instead of into it. There's a reason employee satisfaction surveys always ask if you have any friends at work.
If you have the time and motivation to form friendships outside of work, you're going to want more time outside of work. And things like 4-day work weeks. And unions will help you get more time away from work, too.
CEOs don't want you to form bonds outside of work. Only inside of work. Marry your job, they say. Come worship here, as it is a church.