Yeah, it's bin packing, not straight efficiency. Also, people seem to exaggerate latency for RPC calls. I often get the feeling that people who make these latency criticisms have been burned by some nominal "microservices" architecture in which an API call is made in a hot loop or something.

Network latency is real, and some systems really do run on a tight latency budget, but most sane architectures will just do a couple of calls to a database (same performance as monolith) and maybe a transitive service call or something.