Thanks flux, appreciate your patience with all my metrics questions.Yes.
EDIT: I mean there's probably some limit to how efficient you can be while losing every game but I still believe the answer to the point you're making is "yes". That team will be viewed the same (as an opponent) as a team that had more wins but the same general efficiency metrics.
I just can’t shake my disdain for efficiency as an important factor in all of this.
It reminds me of a football team that racks up yardage between the 20 yard lines, but consistently stalls and has to settle for field goals.
They lose most of their games but their stats are great (total yards, passing yards, rushing yards, completion percentage, number of first downs, least penalized, etc.).
Any metric that gives one team an advantage over another team with more wins versus equal or better competition should not be used to ‘level the playing field’ even a little bit.