I have no strong opinion on return-to-office, but your argument addresses the maximum achievable productivity of a worker, derated by those factors (noise, etc)

I have no strong opinion on return-to-office, but your argument addresses the maximum achievable productivity of a worker, derated by those factors (noise, etc) that effect your individual productivity. An argument against work-from-home is that (a) few workers achieve maximum achievable productivity in any environment; and (b) averaged across the spectrum of workers, the negative impact of reduced observability and accountability is at least comparable to the negative impact of the in-office work environment. Depending on how these influences balance, secondary effects (hallway discussions, investment in commercial real estate, whatever) can become the deciding factor.