Correct. Also, I was mistaken somewhat, the byproducts aren't excreted, they're reprocessed in the liver back into glucose, but this requires extra energy. So

Correct. Also, I was mistaken somewhat, the byproducts aren't excreted, they're reprocessed in the liver back into glucose, but this requires extra energy. So it's less efficient than aerobic respiration, but not by as much as I believed.