Travel time is the wrong property to optimize for when we're looking at transportation and urban design. It's the mistake we've made in America for the last century.
We should be optimizing for quality of life and health. Optimizing for those things yields design like Copenhagen -- bike paths, walking paths, trains and busses for longer trips. It's quiet. It's energy efficiency. It's much better for our health. It encourages healthy social interaction and the feel of community.
You'll probably eat those words. Or maybe your grandchildren or great great grandchildren will.
The value of human time has been steadily going up for millennia. We used to have slaves build pyramids and pick cotton, now we use machines. We used to churn our own butter. Now there's enough wealth in the world that we can afford to have butter specialists make butter and logistics specialists get it to the store shelves. Tasks that we used to think it was reasonable to allocate human time and effort two we no wouldn't think about doing manually today.
I would be highly surprised if in the future we did not continue to optimize for smaller travel times. Of course there are energy and space trade-offs. I think it's highly likely that we will chose to solve the problems caused by those trade-offs rather than having people endure longer travel times when we have the power to shorten them (with tradeoffs).
Spending less and less human time on "overhead" tasks (like churning butter, washing clothes, traveling, etc.) has been a constant theme for millennia. I do not see any reason why that will change.
Travel time is the correct property to optimize for my values. I don't want to spend unnecessary time in transit. That's a subjective value, of course.
You can optimize for quality of life, health and short travel times at the same time. Copenhagen might be a good target with current level of technology, not necessarily the technology of future.
I don't care for imposed social interaction due to public transportation. People don't really interact with strangers in public transportation anyway (in my culture that is).
Not even in terms of the first, because of the last; it's the optimal individual choice in terms of travel time, but making it the socially dominant option produces sprawl (because of space inefficiency); and flying doesn't actually change that (because any dense arrangement means high concentration near the endpoints, and because flight in built up areas is problematic.)
This assumes lots of services, jobs, and housing all within decent walking distances which is quite common in older (European) cities.
Merely walking doesn't scale but the natural extension for longer distances is to walk to a suitable public transit stop, hop on the train/tram/subway, waiting for a while, and continue walking to your destination.
This will also effectively double the locations you might be interested in visiting: you can walk around near home and you can walk around near your workplace.
So, you can use the most effective mode of transport i.e. walking around hundreds of locations (shops, restaurants, services) but you can also switch the whole area by changing transit to another local centre.
It's like looking up stuff really fast in the whole cache line, and then making calculated jumps to read another location into your cache and continuing to traverse locally there.
There's no way any transport can be more efficient than me walking a couple of blocks and checking out maybe 100 doors to different businesses to be considered on my way.
Well, if you need to get from an uncongested area to an uncongested area with a congested urban areas in between and no bypass motorway, and no accessible public transit maybe.
If either origin or destination is congested adding take-off and landing traffic is just going to make things worse.
Not all locations though - I wouldn't dream of driving to work in central Edinburgh as the drive would be a pain, take longer and the parking would be more expensive than getting the train.
Thinking like this baffles me, I can only hope that you are very young.
I just don't see how this is "efficient".
In fact, the ideal "public transportation" is a private vehicle, like this kind of a autonomous flying vehicle, which will transport you whenever and wherever you want. It's not a band-aid, it's solving the root cause. Public transportation is the band-aid, which cannot in practise solve the problem ideally.