The Tech companies can get away with this.....for now....because the Tech bubble has finally burst and they are laying off people anyway.
Fortunately, that is not true of many other industries who are short of workers as is....meaning employees of those companies have a lot more leverage. That is particularly true of experienced workers and those in fields which are in high demand. A large percentage of workers simply do not want to return to the office - and they know they don’t need to.
I’ve warned people for years that a job that could be done remotely can usually be done in Asia; I believe a lot fo the tech workers recently laid off were remote workers.
Remote work is fine for people with a certain work ethic and a certain type of work; I found it cumbersome compared to the office (and want my work and play separated). My employer doesn’t pay rent to use part of my space for my job; a short commute makes the office preferable as well.