My point is that if we take this definition literally, then it's trivially true that no markets are efficient by this standard. It's also true there's nothing t

My point is that if we take this definition literally, then it's trivially true that no markets are efficient by this standard. It's also true there's nothing to talk about since everyone agrees on this. The interesting version of this discussion is where we acknowledge there's a spectrum of applicability where we can argue about statements like "some markets are pretty efficient sometimes" or "markets are almost never efficient" etc.