Personally, I have team members from 3 countries, and we collaborate just fine from home, and a lot of people have decided to move hundreds of kilometers away from our office.

Forcing everyone to move back into the office would probably be impossible for like 2/3rds of our team-members anyway and would probably require either letting those people go, or more likely, reorganize the teams and replacing them with local workers.

I can't stress how much economic damage it would cause, and how difficult it would be to hire and train people on the specialist skillsets we need.