I live 4 minutes walk from my office in the historic core of a European national capital and I’m staying put, even though I could get much higher speed Internet (and wifi!) in the countryside or a smaller city.
My life is here, friends in the neighbourhood, beautiful house, great restaurants and ethnic stores, fresh market around the corner, all of which remain awesome even during limited Corona lockdowns.
Younger people build contacts, friends for life and find romantic partners in cities.
So, if it’s your last professional role or you’ve got a unique work experience moving out from a major city might be a good idea. For many other people, it’s going to be a little self-limiting.