Accepting low efficiency allows a designer to get deeper bass in a given box size. All else being equal, most people will pick the speaker with deeper bass.
Passive equalization in crossover networks is pretty much limited to "cut" instead of "boost and cut". If the designer needs to reduce the efficiency of the tweeter and/or midrange to mate up with a low efficiency woofer, he can do some response-smoothing while he's at it.
Fairly low impedances (4 ohms nominal) will better utilize the capabilities of high quality solid state amplifiers. A 4-ohm speaker will draw twice as much power as an 8-ohm speaker from a high current solid state amp, so it will play 3 dB louder. All else being equal, most people will choose the extra free 3 dB.
Not being constrained to keep the impedance up around 8 ohms increases the range of drivers the designer can choose from, and gives him more lattitude in what he can do and how he can do it.
With all those advantages, why in the world would any designer not shoot for low efficiency and low impedance?
Diversity in philosophy abounds amongst loudspeaker designers, for the above-mentioned "all else" is seldom "equal". It's all about juggling tradeoffs. Each of the advantages cited above comes at a price. My own designs tend toward higher than average efficiencies and impedances, as I place tube amp compatibility high on my priority list - but I make trade-offs in doing so.
In my opinion, those loudspeakers that really sound good do so for two reasons: First, in combination with the rest of the system the speaker must recreate some aspect of a live performance convincingly enough to allow the listener to suspend disbelief and get lost in the music. That aspect can be timbre, impact, coherence, warmth, sense of rhythm, ambience, inner nuance, sound source localization, liveliness, whatever. Second, the speaker must avoid screwing up some aspect of the sound badly enough to destroy the illusion. Sometimes efficiency and impedance play a significant role in these characteristics for good or for ill, but most often it is other technical attributes that are the dominant factors.
Duke