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I am on the company side but my marketing team was chomping at the nit to come back. They say the value in working together as a team and human interaction.
I think the difference here is people having the opportunity to, and wanting to come in, vs. being required to be in 5 days a week. Personally I go into the office 1-2 days a week if I want the collaboration or if remote/other office teammates are in, but I'm sure people would leave if we required in office all the time, especially since we have hired fully remote employees now.
We're having a fully remote team even before Covid-19, but I understand the companies requiring employees to at least not move to a farm in the middle of nowhere or to the coast, so they can be available for physical meetings from time to time.
However, I don't get if they're requiring to come back to the office 5 days a week if most of the work can be done online.
We encourage 1-2 days a week to stay connected and to encourage the break from the monotony of fully remote work. Everyone is different so we don't expect to require it. That said, we have noticed that those who stay fully remote have a hard time staying emotionally balanced and helpful to other team members.