I don’t believe that at this level of technology Working from home can be eliminated. People have been asked before to report to offices and hubs and it didn’t prove to be an effective move. This has just been announced on a larger scale and that’s why it got more attention from people. Even if this happens they will get a crowded office space full of people not used to working in offices. In other words less productive workers. Also, more people in offices means more cost for those locations. I don't see this as a realistic option, and even if they go through with this experiment, it’s a matter of time before they see it was a wrong move.
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"If you think you do not need to report to an office I can just replace you with someone from Kazakhstan. Why should I pay you when I can have anyone in the world do your job for a lot less"
Randal Stephenson
Notice that no HR policies on telecommuting seem to be changing like happened a few years ago.
It’s just a tactic to reduce numbers. Once enough people quit on their own free will I bet WFH opens back up.