Absolutely, the increase in productivity away from an open office is intangible and uncertain. In contrast, the decrease in office space expense from switching to open office is very tangible.
Also, some people cough mostly millennials cough really do thrive in these spaces, and some truly enjoy a social dimension like this for their engineering. I don't thrive in it, I loathe it, and I spew profanity like a WWII sailor trying to work in that environment.
So I try to work from home the most I can. I acknowledge some people cannot motivate themselves to do so and I recognize that's why they're resistant to letting people work from home.
But since open office isn't a 100% harmful thing to do, I agree the war is over and we lost. Start your own shop or go do something that doesn't make you miserable like this does.