I'd Be Fine With That
Promotions usually mean like a 10% pay bump for a 50% (at least) workload increase. To me, that seems like a very equitable tradeoff for being able to work from home. If all I got were COL raises for the rest of my working career, I'd be completely fine with that if I could work remotely the entire time. Maybe go into an office once or twice a year for some kind of special event. I don't want to be in a bunch of endless meetings that come with promotions. I don't want to manage other people. I don't give two shits if I have "Sr." or "Jr." in my job title. I just want to do my job and get paid, the end. If I become friendly with some coworkers, bonus, but it's not why I'm there. I don't care about why the Accounting department is at odds with the Logistics department because two managers who left the company years ago had a beef with one another or any of the other stupid internal politics issues. Just let me do the job I was hired to do.
The thing I hate most about working in an office, is that invariably there are going to be times when you're just sitting around twiddling your thumbs with nothing to do because you're waiting on someone else or things are just slow for whatever reason. If I'm working from home I can turn on the TV or something and just check every 5-10 minutes to see if anything came in that I need to take care of. If I'm in an office and I'm dicking around on my phone because there's nothing for me to do, people tend to assume I'm lazy or shirking my work. Then there's also the many joys of working in an office, like when some inconsiderate jackass microwaves fish, or engages in biological warfare in the restroom. The people who talk loudly... all. day. long.
I've said it before, and will say it again. I bet most Fortune 500 CEOs wouldn't be able to last a week if they had to work like the rest of us. No palatial office with a private entrance, no driver to take them around everywhere, no secretary/PA to help juggle your calendar, you have to fight for conference rooms as opposed to everyone coming to you for meetings. If they had to work in the same conditions as everyone else, I'm betting they'd have a very different opinion on the value of being in the office every day.