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hahaha I love how ass hat CxOs VPxs still believe that people at a desk in an office means work gets done.... lol. I see people at their desks still achieving diddly squat.
It's more about control than it is about productivity. Has been for a long time.
I mostly work from home ever since Covid. But I live reasonably close to the office and go in every once in a while. Usually it's for something like "team building" or meeting some people deemed "VIPs" (lol) or whatever the fuck. It's not always voluntary.
I have to mentally steel myself for getting very little done on days when I'm in the office. And nearly everyone else I work with does the same thing. It actually adds to the stress because that work load doesn't get any lighter for not being able to get to it.
The reason for all the lack of work? Well, there are longer in-person lunches. There are all the impromptu "pop-ins", the hallway chats, the talk while waiting for some coffee, the extra meetings on the schedule because "in person", etc...all that adds up to very little planned work getting moved forward. You might say there are the benefits of catching up and the occasional serendipity from a random snatch of conversation you eavesdropped on, etc.
While doing this a few times a year might have some benefits (but hard to quantify), I'm quite sure it's not worth doing every day, so I don't. Thankfully I have the option.
CxOs and VPxs have more money that they know what to do with. It isn't about getting work done, it's about making you miserable.