Pareto efficiency does not apply, because it is a theoretical construct that assumes perfectly rational actors. It's useful for thinking about the market, but not an actual law.
(For a more humorous statement: https://www.youtube.com/watch?v=oap6_U8-HvI)
So are we saying the market will be perpetual because it's not allowed to fail ?
At what point does the https://en.wikipedia.org/wiki/Pareto_efficient not apply ?
If it's manipulated, the efficient seems moot.