There are a few factors at work, including:

1) A lot of executive type work _is_ easier in person... and those executives forget that their work might not be representative of _other_ roles within their own org, and they might actually be the outlier.

2) A lot of managers don't know how to manage by looking at output. We see this not just with WFH, but also with multi-location teams, where some managers simply can't do it competently.

3) Many managers do, in fact, get some satisfaction from having that sort of power over their workers.

4) Many executives like having an office that is a bit of a tribute to the company (and therefore their) power. And this falls apart if the office is empty.