What you describe is not an "efficient market", is just an over-saturated market, which is inefficient. An efficient market goes both ways: in average, it tends to be as convenient for the offerer as for the buyer.

didiplaywell

econ

Stop demonizing working for Profit

If the competitive market was working efficiently, there wouldn't be much distinction between the operation of for-profit and non-profit, as any profit would be driven down by competition to the opportunity cost of capital 