Nah, RTO is in no way trying to fix business sales. It's entirely a way to layoff workers or to control them. Trying to put an economic reason behind this power play is Febreezing a turd.
management wants to execute their fancy plan to make more money, and see control, supervision, faster iteration, tighter feedback loops, blablabla ... as one part of it, hence the amazing "all hands on deck" idea that today is "everyone in the office".