TACC is not designed to be "efficient" nor does TACC "maintain a set speed" technically.
The Traffic Aware part is not designed for efficiency, it is designed to adapt to the car in front at a set distance. If the car in front is slowing below your set speed, and then speeding back up, TACC will do the same.
The Cruise Control part also is not designed to be "efficient" per se if you want to allow for some slop in your speed to make little efficiency gains throughout your drive.. Maintaining a set speed is wasteful precisely because it maintains the set speed so precisely. When you go down a hill where gravity will cause your car to go faster cruise control wastes the energy conversion loss. If you allow your car to go faster than your set speed and then let it lose it "naturally" on the uphill you are being more efficient.