The analogy in my mind is this: "burning natural oil/gas completely beats figuring out cleaner & more sustainable energy sources"
My point is that "more data" here simply represents the mental effort that has already been exerted in pre-AI/DL era, which we're now capitalizing on while we can. Similar to how fossil fuels represent the energy storage efforts by earlier lifeforms that we're now capitalizing on, again while we can. It's a system way out of equilibrium, progressing while it can on borrowed resources from the prior generations.
In the long run, the AI agents will be less wasteful as they reach the limits of what data or energy is available on the margins to compete within themselves and to reach their goals. It's just we haven't reached that limit yet, and the competition at this stage is on processing more data and scaling the models at any cost.