This doesn't add up to me. The priorities of corporate executives are to please the board of directors. BoD priorities are to please shareholders/investors. Shareholders/investors are pleased by growth/profits. That is, the investors care not about "how things look" but instead how they actually are, as in quarterly reports, share price, etc.

If employees are happier and more efficient working from home, it satisfies the priorities of all the above parties. If RTO makes people unhappy and either less productive OR makes them not want to work for that employer, it goes against the incentives and priorities of all the above parties.