Taxi fares can be incredibly efficient if they avoid the cost of car ownership. They also save time in locations where parking spaces are scarce and taxis are plentiful.

Of course there are also times and places where a personal auto, a rental car, or public transit may be the more rational choice. I've used all of the above at different times and places. But I certainly don't place taxis in the same class as Star Trek paraphernalia and fancy restaurant meals.