Out of office messages are important because they let people know you are away from your regular work duties. These messages help businesses and projects run smoothly when a member of their team is away. They let people know you received their message and will respond by a certain date. This helps prevent confusion and frustration if someone is trying to communicate with you by email but not getting an answer.
I had a coworker that (pre-covid) had an out of office set up any time she worked from home. She didn’t operate any differently than when she was in the office, and there wasn’t any information in the message, just “FYI I’m wfh today”. It was weird to keep getting those messages, since her working from home had zero effect on your correspondence with her.

I will find a few moments of holiday bliss once they watch Elf for the seventh time this month. I’ll seize the quiet to check my email once a day. I will only respond to urgent matters but will reply to all emails upon my return.
My OOO is almost always “I’m out of the office and will be returning on x date.” My email sig has instructions along the lines of “for questions on x, email this list” for a couple of the more common areas people would contact me about that might need an urgent reply (as the lists go to more than just me, obviously), but most people have finally figured out to contact those lists to start with, anyway. If I were in the middle of a project or something that needed to be moved along in my absence, the project teams usually know when we’re out, but I’d put a back up in that case, if needed, but generally there’s not much to be gained by a longer OOO from me.