Ok, let's turn it around. Smart businesses who use open office areas try to maintain the remaining space for some types of amenity spaces-- team rooms, cafes, extra circulation, couches, etc. It becomes very hard to have less than 200 square feet per person on average in the US, which ends up being 35-50 square feet of personal space, 20-30 shared square feet of direct circulation space, 10-20 square feet of indirect circulation, and about 100 square feet of common areas. Parking is generally only designed for 250 square feet per person.
I've had a private office for ~10 years, and do prefer it. It is absurdly large, which (as someone paying the bills) I find wasteful, but I love being able to use speaker phone, have my sonos on on the background, decorate, look out the window, and have as my own little space.
My worst cubicle over the years placed me in direct view of everyone coming in from the lobby. It didn't take me long to build a wall of soda cans for privacy. My second worst at least my back was to the entrance, and despite being tiny had enough space for what I needed to do. In general, my issue was always less the audio distraction and more the visual distraction.