I do not have a "new" Model S, so I have not actually done much testing of the one pedal driving but my understanding is that it is based on the type of motor. Raven S have a front PM motor that is what actually slows the car down from 5mph to 0. Induction motors can regen only until ~5mph because they rotate too slowly to generate sufficient electricity at a slower rate of travel. PM motors can be activated (in slow speeds reverse) to slow down the car. Induction cannot. Model S before the Raven had 1 or 2 induction motors (the front in a dual motor being much smaller than the rear which in a performance is much larger).
I'm not sure how one pedal Tesla driving could be more efficient than a human coasting and minimizing friction brakes with induction motors but I believe PM motors are inherently more efficient overall (though less powerful -- though the Plaid may put that to the test with carbon-sleeved rotors that have a flat power delivery through 20k rpm).