If any serious work is being done in a company, it does not look like that. Why do people keep pedalling this lie? A big problem in engineering is a lot of the work is done by engineers in private and the supervisors don't get to see it or experience it. So they think it happens by magic and that maybe the laughing execs actually contributed to it.
Unfortunately there's a huge amount of people employed in offices who literally do come in all day and don't do any work. Working from home means you actually have to have some work to do. What we're seeing is a load of people realising they have no work to do.