Home working, or at least 100% remote, will be on the decline, but it'll be a slow transition back, and frankly I imagine the overwhelming majority of white collar jobs will retain some sort of hybrid approach.
I think it ultimately comes down to the culture of the organisation and how they manage remote working. My current client very much has an attitude of if you have a problem you pick up the metaphorical phone and call someone on Teams. I have sometimes dozens of calls a day, even as a software engineer, fairly well mimicking those coffee machine conversations or the times you peep over your monitors to ask someone if they've seen this error message before. We do quarterly team meetings in person where all expenses are paid and we go out for tea somewhere. This is also very valuable. I think this balance works ok.. at this client.
I've had other clients who prefer to try and solve problems by formal meetings. The mentality that if we just implement the Scrum Handbook we'll be great. But then you'd have a lead developer who wasn't actually up to date with modern coding standards and would be condescending in meetings and on calls. So people had less of an inclination to ask for help in group chats. It's not the right culture, and in fact had it been an office based environment, his behaviour would have been visible to management who would've pulled him up on it (I hope). This kind of organisation with these issues won't thrive under fully remote working. People will get disenfranchised and switch off and it'll go somewhat unnoticed.
Weirdly at my current client, because I'm a contractor, it's actually been difficult getting an access card to the buildings. When I arrive I have to call somebody to come down to security and collect me. It's not a secretive organisation or anything, in fact quite mundane, but it is London where office security is naturally tighter. So I can't really rock up at the office without some advance planning. I think they're perhaps a bit wary given I live hundreds of miles away in a different country and wouldn't come in weekly, so they think I don't need a card, but it is a mental barrier. Sometimes I think oh this would be way easier if I just say next to this person for 2 days and we bashed through it, but he's also a contractor and we have these hoops to jump through. Whereas I'm quite happy to jump on the sleeper with little notice and spend a day or two physically located with a few people I'm working closely with, and my boss is personally happy for me to do so also, but the estates/security team, less so!
On the other hand, I will not take a role which requires 3+ days a week in a London office, and my boss (or, the person signing off my contract extensions) knows this. So he won't even bother asking me to come in weekly because he knows what the answer will be. Nor do I think he'd want to sign off on the trains/planes and hotel. If they want in person working, they'd have to terminate the contracts, both permies and contractors, of almost all of the tech team.