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WFH does has some effect on people going out. Personally, I have the financial means to still go out on occasion, I just don't. When I used to have to drive in for work, I would eat lunch out about once every other week (I have an old, bad habit of treating myself to lunch on pay day). That's a sold meal which is now gone from that area's economy, and I'm sure there were a lot more. Beyond that, I find that there is now a greater mental barrier to the effort required to get dressed up and go out for a meal or shopping downtown. I'm like Professor Farnsworth from Futurama, "well, I could go out. But, I am already in my pajamas."
That said, ya it's not all WFH. Even with the financial means to go out, the current economic environment means that I'd rather not spend $100 eating an over-priced, poorly cooked meal somewhere downtown. I can spend $50 on some really nice ingredients, grill up a couple steaks, cook vegetables which aren't overcooked to be limper than a eunuch's dick and eat potatoes which don't taste like they came out of a box. The other $50 can go into savings and I don't face social pressure to put on real pants.