Isn't there an efficiency advantage with bigger rings?
Yes. But I don't know if going from 38x16 to 50x21 makes much difference to efficiency, my experience would suggest not.
Very small sprockets are significantly less efficient, here I am thinking 11T as used on a Moulton versus the 14T top gear sprocket on my derailleur lightweight. Found a summary here that gives an idea of the efficiency gain going from 13T to 24T:
https://www.cyclingpowerlab.com/DrivetrainEfficiency.aspxFor me, the most noticeable difference in going for larger rings/sprockets is durability.
Past experience with derailleur bike half-step triples suggests that 44/50 lasts significantly longer than 40/36, both these were with small inner rings (26 to 30), wear on the latter is fast if used often, which wasn't the case as mountain touring only accounted for a fraction of my riding.
On utility bikes with hub gears, 44x22 was slightly more durable than 38x19 before I discovered the Chainglider.
I suspect that the main effect as far as durability is concerned is faster chain wear on a small sprocket leading to faster wear on the chainring(s).