I believe, distributed power is cheaper. Smaller transformers, less drain on the power grid, etc. etc. In other words, I think it's less efficient, especially in the summer when body heat becomes a negative rather than a positive factor.
And offices aren't often great at adjusting thermostats when people are out of the office. So that larger space is often being heated/cooled 24/7
Also they cool down offices because "business clothes" mean pants and at least golf shirts but probably long sleeve shirts and maybe a tie for some reason. Meaning the men need to have it at 67 or so to not sweat balls and the women wind up wearing cardigans in August. Meanwhile i just try to keep it under 80 in my place, use a personal fan and maybe hang a little brain out of my short shorts while in a Zoom call.
What's more efficient? Heating a small home that id well insulated and geared towards economical energy use or heating massive empty spaces of a practically non-insulated office building with massive heaters while at the same times the homes are being heated? (Albeit to a lower temperature)