No, not something better designed. Something augmenting Bitcoin to make it cheaper to transact while maintaining a base layer for final settlement that is secure and decentralized.

You leave out other characteristics that make Bitcoin an attractive economic good, when you think that matching or exceeding the security at a lower cost is a valid argument against Bitcoin. If it was all about power consumption, Bitcoin wouldn’t keep increasing in demand and price.

Look, you can theorize all you want about the inefficency of Bitcoin, but the market has spoken and continues to speak.