We can't argue this from data, because the data is mixed, so we are left with arguing from a position of power asymmetry ("I am the boss so I make the rules") and working conditions at somewhere workers spend a third of their life. Workers are left to flex whatever is available to them. Change happens slowly, and then all of a sudden.
If businesses must die in the process, and commercial real estate investment losses are enormous, so be it. Work to live, don't live to work (and quality of life and working arrangement is a significant component of that). Meaningful work is nice, but no one is showing up if you didn't provide the check.
By whose definition? Home can be a great work environment with a modest investment.
vs
My employer gives me a generous stipend to keep my home setup ergonomic and comfy
I'll pick the latter every time.