Not strictly all. You still have more time on the days you work from home, which you could use to be social.
But yeah, if everyone is "hybrid", then the pressure on the housing market is unlikely to go down enough, which means that many people may find themselves in living conditions poor for remote work, which means they're more likely to go more often to the office, which means they're back to where they started...
It just means "the employer" has to keep the office space for a lot of people who will only use it occasionally and all the costs associated with that. I doubt most employers would consider that an upside.