Is this from a consumer or producer standpoint(or both)? A race to the bottom ultimately hurts everyone. In a simplistic world, if wages go down, people will consume less, causing decreased revenue. Its in the best interest for companies to have a competitive wage floor that still allows for quality goods and services to be created.

Remote work will certainly shift dynamics, I am quite interested in if the concept of 'hybrid' work will take off, and how that would shape cities/communities.