I doubt that executives are that clever. I've seen this conspiracy theory circulating atm, but it relies on so many assumptions that I consider it unlikely. It assumes that executives "help" each other out by willfully spending money for office space and all it costs, that could be saved in expenses by employees working from home. Corporations are obsessed with cost cutting, why would they willfully waste money? It also assumes that corporations help each other out. Considering the fierce competitiveness corporations are exposed to and how this extends to all fields, including office space, employees, office equipment, etc., this is nothing more than a conspiracy theory. Another assumption is that the push for a return to the office comes from ALL or mostly all executives. Is there actually data supporting this claim? Who is really doing this?

What I think is the real reason, is far simpler and requires less mental acrobatics to justify: The people, who are pushing for a return to the office, (a) have a stake in the performance of the company and (b) are not working themselves when they are supposed to be working from home. They then project their own behavior upon others, and therefore push for a return to the office to, in their mind, prevent their enployees from slacking off.