Air resistance is the main factor only if you’re not actively stopping/restarting/braking as needed. In urban or semi-urban courses adjusting speed and stopping at red lights is par for the course.
Also efficiency is really about effort. 95% is low for a bike, but even taking a 10% difference compared to the chainless one: for the effort you’d put to ride 10km with a chain, you’ll only be around 9km chainless.
As you say it might not matter if you’re only going for groceries at 1 or 2km of your home. That’s a different story if you use it to commute or plan on longer trips (now it could be seen as a handicap to get more exercise depending on the target customer)