The drilling efficiency of a wood-bit is not only comes from the tip, the bit is razor sharp throughout to effectively drill and smooth the hole at the same time. In terms of this particular bit, while it's not the fastest I have seen (and I semi-regularly use a drill with any and every material), it's not particularly inefficient on what it looks like not-very-soft wood.

> Phillips screw heads also slows things down due to the greater care needed to avoid...

It has a Pozidriv version too as the article notes. Also it's worth noting that even though you don't slip a Phillips or Pozi screw, the driver gets nicked and worn drive by the constant application of torque repeatedly. Even my Weras show some wear even though I give the utmost care I can give.

I'd use that thing at home for light duty stuff, or use it for a very long heavier duty job and might get rid of it at the end of the day.

Self tapping screws do not drive so cleanly most of the time, so I'd not prefer them for the places I see every day. They're good for places I can't see at the end of the day.