The primary benefit of AC is it's really easy to change the voltage of AC up or down.

The transmission efficiency of AC comes from the fact that you can pretty trivially make a 1 megavolt AC line. The higher the voltage, the lower the current has to be to provide the same amount of power. And lower current means less power in line loss due to how electricity be.

But that really is the only advantage of AC. DC at the same voltage as AC will ultimately be more efficient, especially if it's humid or the line is underwater. Due to how electricy be, a change in the current of a line will induce a current into conductive materials. A portion of AC power is being drained simply by the fact that the current on the line is constantly alternating. DC doesn't alternate, so it doesn't ever lose power from that alternation.

Another key benefit of DC is can work to bridge grids. The thing causing a problem with grids being interconnected is entirely due to the nature of AC power. AC has a frequency and a phase. If two grids don't share a frequency (happens in the EU) or a phase (happens everywhere, particularly the grids in the US) they cannot be connected. Otherwise the power generators end up fighting each other rather than providing power to a load.

In short, AC won because it it was cheap and easy to make high voltage AC. DC is comming back because it's only somewhat recently been affordable to make similar transformations on DC from High to low and low to high voltages. DC carries further benefits that AC does not.