Yeah, but you're thinking about when the company picks people to fire. Forcing people back to the office decreases worker satisfaction across the board, and workers will respond individually. I'd argue that those highest paid will be most willing to suffer the inconvenience of commuting, regardless of their talent, so the "make working here annoying" plan will tend to retain higher paid employees while losing lower paid people through attrition. Likewise, workers are more likely to tolerate the annoyances if they don't have any other options. Good people can more easily job-hop, so this strategy is also likely to retain the lower-performing employees while the top performers go elsewhere, not considering pay rate. Total labor costs will decline, because there's fewer people working, but it's not an efficient selection process.

Long story short: pissing on your employees results in a smaller, lower quality workforce.