I think the companies there will also need to reinvent themselves. I'm currently interviewing and both Apple and Facebook required in-person or based around a satellite office. I'm in Los Angeles so it shouldn't be a crazy ask. They lost out on a candidate and my labor will go to a business who lets me continue living my life.

Given thoughts like Individuals Matter [1], my speculation is that these companies are currently losing a lot of valuable individuals who can command more flexibility. There are plenty of remote first companies paying competitive salaries.

1. https://danluu.com/people-matter/