Same here. Infrastructure engineer of 10 years now, recently got my first fortune 500 job and most companies now are super bloated with middle management. They honestly think their job is to schedule meetings and manage the progress of their team instead of providing support and guidance. A good manager will leave you alone if your job is getting done, but being a good manager implies you have valuable skills that would transfer to other companies, or that you know the job well enough to know how it should be done. I don’t see engineers turned management have this problem so much as business people turned managers.
In the US at least, I know quite a few people that are working multiple jobs at once and putting out shit performance on every job. They are also living in locations they are not allowed to live in (company has a policy you have to live within a certain distance of a branch office), so I think some of this RTO stuff is justified, so long as the company stays flexible enough for me to decide which days I want to be in office