I do think there is some evidence that companies are just doing that stuff regardless. There’s a “speedup” I think I’ve seen it called, a push to do more with fewer people and make basic benefits feel more like a privilege.
My company fortunately did not issue RTO mandates but has taken to requiring people to work watched in a Zoom room all day and explain any bathroom trips longer than 3 minutes. That’s where I think the real estate angle becomes relevant, probably the only reason my workplace went the other direction and full-remote is that a) we’re stalking people on zoom now and timing their #2s and b) we’re midsize with few close corporate relatives, and leased all our space previously. We have no other skin in the game besides saving a massive overhead cost