No one is saying to stop space activity. All of that could be done through government agency if we really wanted to. Inefficiency doesn't come from some nebulous bureaucracy, it comes from actually observing regulations and taking safety and environmental considerations into account.

If space is that important for humanity, than you may as well suspend the regulations. All a corporation is doing is skirting those regulations and acting as a middle man to collect some money for doing so. Adding profit does not make an organization more efficient, as it means money is going to things that don't support space.