In this particular case we are talking about a large company that owns a lot of commercial real estate and invests heavily in it. From their point of view, allowing people WFH is acting against the best interests of the company - if these commercial buildings are sitting empty, their value goes down.

I see their point but as an employee I would never work for them unless completely broke and desperate - and even then only temporarily, just to have time to find a better job that allows WFH.