I guess I'm just a 'glass half full' kind of guy. The offer is better than nothing. Different people have different priorities and what they can/cannot accept. This offer would certainly be an enabler to many people. And to many people who would be 'going home' to see family anyways the amount is not insubstantial so I think it really is helpful/meaningful.
You're right that if someone were not flying overseas due to the QT period, this isn't impactful. But it's a benefit so it's not something you 'have' to use, but it's something that is nice to have. Like CSR leave, or medical insurance.
And i'm sure JPM and MS allows WFH unless you're a trader or something, in which case I'm sure there'd be some sort of arrangement in any case to enable this. If the driver of this benefit is retention, then people will make this work.
There is a limited demand for quarantine over the whole year (although there might be peaks at Christmas and other times of the year). It is better for a hotel to operate at 90%+ occupancy rather than 50%. Many of the hotels are parts of groups rather than operated individually. Therefore, for them it makes sense to limit availability of quarantine hotels (and have high occupancy in those hotels), and either reduce staffing in other hotels / close them down, or keep staff, but increase occupancy by having special deals (stay vacations / birthday rooms etc.) in the other hotels.
This is another issue already forcing people to face rebooking.refund issues as per one of my earlier comments unless they can get another airline on same route same arrival day