I think what really kills creativity and productivity is forcing people into one model or another. The large majority of companies screaming for people to get back into the office are all companies that have a high stake in their office buildings, such as ownership (Google, Apple, Microsoft, Salesforce) or long leases. Clearly they want to see people inside, otherwise it was terrible investment.

You'll also find that some companies want people back into the office due to political pressure where a given region or city's administration is pushing for it to "revive the economy". To that there is some truth. I for one know that I haven't bought a Subway sandwich in over two years, because I am not in the office any more so it's further away now, but my local cafe has gotten more of my business than ever before, so the economy is certainly there, it's just more fluid and has shifted to all over the city rather than concentrated into a few major areas.