It would be so less efficient that you could simply buy a 1000x more water pumps for the same price. No one sane would choose a water pump with a million switches over 1000 of the same pumps with 1 switch each.
in this context, 'energy over time' is not what we are talking about.
I'll leap to say ultimately, it's probably quite like mass and gravity; the end observed effect of mass lumping together is like this 'observed' effect of power agglutinating. but which is the mass? and which is the gravity?
Decentralizing dilutes power, and power wants to agglomerate, so decentralizing is often like asking water to flow uphill.