I hope latency has improved to be much better. Haven't tried it in a few years.
Separately, it's long been a thing on Nvidia Optimus laptops where the most inexplicable thing could cause the iGPU to be swapped out for the power-hungry discrete GPU. A GL-powered terminal definitely seems like it could be in that territory.
In short, many reasons it could be less efficient, hence the question, is there any evidence that it /is/ less efficient?
You could hit drivers bugs for sure, but that means in your particular config GL will be worse so you need to test, doubt this translates to a general scenario.
I think a lot of people assume because your default GL setup is to use immediate mode to re-render everything at refresh rate that's the only way to do rendering and that's why GL apps get the reputation for being power hungry.