I already see it reversing among everyone but those in high income industries. I'm seeing a ton of artists settling in small towns these days. The cost of living is low, allowing you to live on things like Patreon and Etsy and make your art.
This kind of radical decentralization is something the original boosters of the Internet in the 90s predicted, but then the great urbanism wave of 2000-2020 happened. But... remember that we tend to over-estimate the effect of technology in the short term and under-estimate it in the long term. The true decentralizing effect of the Internet might just not have been felt yet.
I'm not sure I've ever heard a good explanation for why the urbanism wave (among a fairly specific demographic) happened. As far as I can tell, it was mostly led by people and employers increased their urban presence in response to better educated/better off young people wanting to live in cities--not the other way around.
(There are some exceptions I can think of like pharma in Kendall Square Cambridge. But I assume Google, VMware, and Facebook would be just as happy if not happier establishing offices in Metro West--where most of the computer tech has historically been--rather than Cambridge.
Manhattan is somewhat of an outlier but Manhattan has long been an outlier in lots of ways.
This kind of radical decentralization is something the original boosters of the Internet in the 90s predicted, but then the great urbanism wave of 2000-2020 happened. But... remember that we tend to over-estimate the effect of technology in the short term and under-estimate it in the long term. The true decentralizing effect of the Internet might just not have been felt yet.