My considered opinion is that the research on WFH is pretty equivocal on productivity, so it's probably fair to call it a wash. But many workers love it.
Bosses, on the other hand, hate it. Why?
I think beyond any considerations of efficiency, the history of work from slavery and serfdom to modern Taylorism and "scientific management" shows that the feeling of control is a value in and of itself. Many bosses will pay for that feeling.
https://www.theguardian.com/business/article/2024/aug/29/australian-billionaire-boss-coffee-breaks-office-chris-ellison-perth-mineral-resources