Not saying it can't happen, just that it's likely that business will pull back from WFH as to improve productivity. Even our Liberal gov't is weary of WFH, they are resisting engraining it into union contracts as they saw monstrous productivity losses (all those issues with passports, immigration files, court backups, CRA tax investigations were hamstrung due to productivity losses.
Till mid-Covid, I worked for one of the largest companies in Canada (with 6000+, my campus had a fraction of the workforce). I had pretty good visibility into productivity data, before and during, the Pandemic. I don't have access to the fine details, but I interact with enough industry colleagues to have a good feel for the challenges.
Right now companies are treading carefully as employee retention is a big concern. That may not go on forever, should the economy slow down, that could change.
You say “productivity loss” I say middle management being made to look like a spare wheel. I think my wife’s had 3-4 raises since working from home partly due to her productivity.
The cats out of the bag, the productivity loss thing is like the poisoned Halloween candy myth. Sounds feasible until you actually go looking for it.