Almost tautologically it's not "inefficient" to do so, because free market economics has decided that all the attempts are mathematically worth it, for a high-margin low-marginal-cost product like software.
I'm a little lost as to why seven teams duplicating effort is more "efficient" in any sense of the word than one or two teams working iteratively toward the same goal.
If this were seven government funded teams solving the same problem, people would lose their minds over the 'waste' But when private companies do it, we call it efficient market competition. The duplication is the same - we just frame it differently.
Edit: fixed some typos caused by fat fingers on a phone keyboard
I'm a little lost as to why seven teams duplicating effort is more "efficient" in any sense of the word than one or two teams working iteratively toward the same goal.
If this were seven government funded teams solving the same problem, people would lose their minds over the 'waste' But when private companies do it, we call it efficient market competition. The duplication is the same - we just frame it differently.
Edit: fixed some typos caused by fat fingers on a phone keyboard