i would argue it is not more efficient. It is all about saving display size and reducing cost for Apple.
The notch reduces functionality. It reduces the amount of very useful information that can be displayed at the top of the screen like Bluetooth battery percentage in actual numbers, Alarm clock notification icon.screen orientation and location.
I buy iPhones for their great user experience. I like my iPhone 8 plus a allot. I don't want a notch just to differentiate it from other phones or to save money by using a smaller display size screen.
I would rather have useful information displayed at the top and have the display 02 larger.
Look at this picture I posted earlier in the thread between and iPhone X and my 8 Plus.
The 8 plus has more useful information displayed that adds to a better user experience.
Just ignore the bezels...i know how much they bother you. You can reduce bezel size and still have a great screen to body ratio without having a notch. Look at the Samsung phones....