I've been creating a cli tool with a focus on token efficiency. Dont see why cli could not be as token efficient as mcp. The cli has the option to output ascii, markdown and json.
the output format (ascii/json/markdown) is one piece, but the other side is input schema. mcp declares what args are valid and their types upfront, so the model can't hallucinate a flag that doesn't exist. cli tools don't expose that contract unless you parse --help output, which is fragile.
I'm working on a paper on this, if you are using a hypermedia-like system for progressive revelation of functionality you are likely to find that this chatty style of API is inefficient compared with an RPC-like system. The problem is architectural rather than representational.
I say this as a hypermedia enthusiast who was hoping to show otherwise.