Why do some companies continue to insist on keeping their employees tethered to the office?

I think it's because some CEOs wants to see the employees that they rule over, on a daily basis to feel powerful. I can't think of any logical reason since if there's one thing COVID has shown us is that companies can work even if they're 100% remote. So why not continue doing that to some extent?

I think it has to do something with taxes if you let your employees work from home, especially for big companies.