I generally still fall in the traditional camp of wear a suit and tie to an in-person interview, but I would probably say tone it down so you aren’t more the 2 “steps” above the general work place dress (i.e. if most people t-shirts, shorts and flip flops you probably shouldn’t dress nicer than khakis or slacks and a dress shirt).
But what are people’s opinions about virtual interviews? Does virtual vs in-person make a difference? Is it different if it is initial vs follow-up and you have a better idea of how the interviewers dress? Does your opinion change if the interview is entry-level/first job vs experienced vs c-suite?