No, it is just incompetence. There's a serious disconnect between the people making the return to office call and the people dealing with it. The thinking is that, over years, the talent lost will be replaced and the backlash will subside and whatever reason they have for the RTO is more important than these.
The trouble with the software industry upper management is that they have never had to deal with an industry in trouble. They've been working in a rapidly growing industry for their whole career. Bad decisions matter very little in such environments so they think they don't make any.