I think this is right. Of course, the trade-off has always been there for all to see between "work" and "life," but greater ability to WFH has rightly cause people to reassess the sacrifices they are willing to make for their careers. I hope I've been clear that, while I think there are real reasons RTO is valuable, they are not necessarily decisive at every margin.
Of course, another side of this is that some people like their workplaces and like to social aspect of going into the office. Not everyone has to, of course, but it also takes a certain critical mass of people in the office in order for anyone to get those benefits. So, on a certain level, this is also just about competing preferences.