I do not think it is that RTO is that easy issue. Still, it is quite a new topic. I don't know how it is in other places, but people here in Eastern Europe mostly do not have a real office at home. Our houses are just not designed that way. Demand for HO is about eliminating commuting - aka benefit for the employee, not organization. Still, the organization is responsible e.g. office office-enabled disease (something that can develop if one has e.g. bad chair, or a nonergonomic workplace).

We did a test at one of my clients. We have created a fully on-premise team, just to compare productivity with HO teams. You can guess, 3:1 in favor of the on-premise team. The type of work can impact the results, but if a creative element is important, on-premise work will mostly win. No manager wants to deal with a situation where an employee works for multiple employers concurrently at full time.

It requires training, different management styles, and equipment/processes to enable effective HO work. It may not be available in a given area. Only a few understand it.