Humans are naturally social creatures, and a home office can only do so much to manage the discomfort. I love and hate working from home, I think if you are very busy then it can be a joy, if its slow then the motivation seeps out of you.
I think companies know that when employees are out of the office they see things for what they are. A cold hard exchange of labour for cash, no distractions, no social bonds. That's why so many people are leaving their jobs.
RE: The end of Smart Working: After a year and a half I go back to the company