My understanding is that it does spin the bacterium. I don't know that I'd call the motor "inefficient", however.
The way in which direction is apparently achieved is inefficient, however. (Though I'd say it is remarkable efficiency to pack an effective motion system into such a tiny package!)
My understanding is that bacteria usually spin for a short time, moving in a mostly straight line at signficant speeds. Then they stop, and have a short "tumble". Then they move off again, in a different completely random direction.
So how do they get direction? Interestingly, it is by a kind of analog to selection and variation! Suppose, for example, that a bacterium tends to move towards a light source. The way this is acheived is by having the length of time of the straight line movement be related to the light intensity. In a dark place, they tend to move in straight lines for a longer time before entering the tumble mode. This increases the probability that they will move away from the dark.
Cheers -- Sylas