I managed development teams for many years and have been responsible for recruitment, development, appraisals, discipline, pay-rises, promotions, mentoring, etc. Many of these depend on seeing how people work, not just in a project team, but in the company, with customers, with awkward people, with directors (!)....etc. An engineering graduate will be taken on mainly because they got a good, relevant degree. But they might be destined to be a technical leader, a systems engineer, a project manager, a test lead, a function manager, a commercial officer......etc. For many of these roles I'd find it hard to judge their potential if I only ever saw them on zoom and when they came to the office for project-specific meetings. I had a guy who was desperate to move into "management" but delegating most of my work to him while I had a week off disabused both of us of his suitability. Another engineer's potential as a leader only became obvious when he diffused a difficult situation in the canteen one day - nothing to do with work.
Also, shit but true, for the vast majority of engineers, their pay rise will correlate strongly with their personal attendance at work.
I'm an old git, and I assume that with enough time, thought, tools, etc. that things could be made to change. Problem is, as the Apple case shows, most of today's managers are also relatively old gits and I don't know if you can teach an old git new tricks.