This absolutely makes it possible that under the vast majority of value systems the most “effective” agents would be ones that take over their inputs, but I think it makes sense in that case to say that those are the wrong value systems, rather than that the agent is ineffective.
Certainly the agent is ineffective. It destroyed information which could have reduced its value-uncertainty.
I'm pleased to announce a new paper from MIRI: Formalizing Two Problems of Realistic World Models.
Abstract:
This is the fifth of six papers discussing active research topics that we've been looking into at MIRI. It discusses a few difficulties that arise when attempting to formalize problems of induction and evaluation in settings where an agent is attempting to learn about (and act upon) a universe from within. These problems have been much discussed on LessWrong; for further reading, see the links below. This paper is intended to better introduce the topic, and motivate it as relevant to FAI research.
The (rather short) introduction to the paper is reproduced below.