Indeed, this is the actual effect of RTO policies:
RTO means terrible decision-making in general. So those companies would be doubly unpleasant to work for. Not only would they have bad management (as evinced by RTO), but the people working there will be shit because they’re the ones too incompetent or uncompetitive in the job marketplace to be hired anywhere without RTO policies.
Me, I get real recruiting offers nearly daily. I have vast choice. RTO me at your own peril. Won’t hurt me a bit to go work somewhere else for more money. And I will definitely provide benefit to whatever company is lucky enough to hire me.