I'm a big believer of enabling people to perform their best, which means accomodating their needs. If someone has a later circadian clock I'm not going to set up a meeting at 9AM with them.
That's the same for work environment, neither remote or in-person is "better" but they are for some people. You will always have people who only excel remotely and people who excel and thrive in-person. Mandating one specific environment is not efficient in my view.
I've always followed this and generated hundreds of millons in value through the years so I guess it works.