I'd rather just work in a normal office provided by my employer than work in a co-working space. The latter seems strictly worse, so long as your company has an office where you live anyway (and mine does).

Also, co-working spaces are no-go because of COVID-19 too, at least for now. So the current situation isn't so much WFH as it is WFQ, and co-working spaces don't meet that need either.