Since the 1970s the prevailing logic in most c-suites in the US (and really, the rest of the Anglosphere, but especially the US) is that companies exist solely to "create" (I'd say transfer, but regardless) value for shareholders, really by any means necessary.
If they can make money letting you work from home, they will. Unfortunately most companies have long-term leases or ownership of commercial real estate, which is getting less and less valuable by the minute. The value of these obligations outweighs the value created by not having to have people work in the office. So back the workers go.
They care about those things insofar as they're legally obligated to and/or they can be mined for positive PR. All of them would sell your grandma into slavery for $5 in shareholder value if they knew they wouldn't be penalized more than $4 for it.
It's also a great way to distract people (read: shareholders) from bad performance in other areas. Set yourself up some obtainable goals, and obtain them!
Then something like remote work comes along that actually helps all these and they throw it away. Shows their words are meaningless.