Sometimes code bloat IS the most efficient solution. "Good, fast, cheap: Pick any two." It totally depends upon the problem being solved. I bet the Apollo 13 astronauts didn't want to delay their return to wait for code jockies to slash a few cycles. On the other hand, they cared very much about optimizing current consumption because their fuel cells were gone.
Except that bloated shit usually is expensive, delivered late, and does not work, while efficient software is also delivered in time, cheaper, and works better. The correlation is strong.
This is because poor practices go hand-in-hand. If you can't write decent software, or manage a software project properly, then it will fail in many different ways.
Shaving off the last 1% of performance is of course totally different, but it's never about this really.