I'm sure that is happening in some organizations.
What I can't reconcile is that I work at a wildly profitable company with a great big market share in their core market and a vast moat around it due to the massive costs with entering this business. And yet, we're requiring "hybrid" work for employees.
We've been unable to hire folks to cover open positions because of the ridiculous "hybrid" requirement for no good reason - I know at least 3 people that we could hire for senior engineering roles that we have open, except they aren't in this geographical region.
I recently asked our director of engineering if there's going to be any change so that we don't have to slip schedules by not having asses in seats and he just kind of shook his head because he also understands how stupid this is. So now we're going to have to slip milestones and deadlines because of some arbitrary policy that is actually hindering us from getting the job done. Well done, C-suite!