Yes people who talk about vim being more efficient, are in my opinion, misguided. For me it's very little to do with efficiency, and much more to do with creating a more pleasant experience writing text, especially text with an exploitable structure (code).

I really enjoy precision, and that's what vim provides. It's the same reason I'd much rather play an FPS video game with a mouse and keyboard, than an analog control stick. And the same reason I hate doing anything important on a touch screen.