Humans are very selfish creatures. We value joy,comfort and happiness to efficiency and long-term decisions. So undoubtedly if a system like this is ever enforced, it will be met with resistance. In addition to that, workers and students that have to live in one building and use public transport only might be dis-satisfied with their lives and routine. This unhappiness will certainly lead to lower productivity. As a university/college student myself, I can say that when I am in a bad mood, I can not focus on work/projects.
So pursuit of Maximum efficiency or profit should not be the ultimate goal of humanity because lets face it, the Sun will explode eventually, heat death of the universe/big crunch will happen someday and I am 100% sure that not a single living, sentient, concious or intelligent being will witness that. We should live our lives whatever way we want because we will surely face the consequences.
TLDR: YOLO smell flower before you die.