Some people feel really insecure without an office, deep inside they think it isn't a "serious business" unless you own real estate in a "serious" postcode. I don't know if it's just an European thing but it's definitely an attitude I've encountered.
In IT, tbh, I think we should just own it. There are more productive and creative ways to send out that sort of signal.
But, then the marketing/sales part of my experience chimes in and I think of all the various times in my career that having physical space added to my credibility. I think of the sectors (government tech and financial tech instantly come to mind) where decisions makers are heavily moved by AAA office space. And, I think of how many times I've seen spending an obscene amount on rent actually convert into paying customers.
My inner developer is saying "right on" but my inner marketer/sales type is thinking of all these times when physical space has a positive ROI from a sales/marketing point of view.
I think it's even harder for companies that have open open offices or are doing Agile. Those two things usually mean the companies are explicitly stressing in-person collaboration. In-person communication isn't a bad thing by itself, but I think that explicitly valuing in-person communication ends up making remote work harder.
It is really hard for established companies, full of many different humans with their habits, to shift from shouting across the room to some sort of distributed, async, communication.
Arguably, one of Ubuntu / Canonical's failings.
The Debian - Canonical distinction is milder, though the latter has at least some centralisation. Nowhere near as much RH's.