hashing power went way out of control, now the bitcoin community is sending over $10 dollars/day (in fiat no less) to power companies all over the world. That money doesn't come from nowhere - it is real money lost by the community. We've got to find an end to wasteful hashing.
The plan from the beginning was to gradually move over from the block reward paying for security to tx fees paying for security just like with PoS. This is part of the process with the scalability roadmap where block we will go from 2-7 tps up to 140 tps and thus bring in up to ~2520 usd in tx fees to cover securing the blockchain. PoS algos will temporarily remain more efficient because of this transition process but bitcoin has the benefit of better security and a fairer distribution based upon risk and effort and not simply stake. Eventually, economic pressures from the costs of electricity should force miners to both centralize and decentralize at the same time. You should expect to see very specialized mining farms using cheap renewable energy and recapturing heat energy to produce goods or services. On the other end you should also see decentralization occurring to allow individuals who heat anything to do so with mining to save money instead of just heating up filaments.
The distribution/issuance is one thing, the security model is another.
Would be possible to have PoW coin with very quick distribution,
and PoS coin with many block rewards.
The poS fans will say 'look how efficient we are' but the trade off
is how unfair the distribution is. Bitcoin's hundred+ year distribution
gives many chances to all, for example right now the price
is cheap compared to where it may be after the next block subsidy halving.
I really liked that article 'long live Pow, long live mining' because
it explains why you cannot gain any extra efficiency simply by
moving to a new security model while keeping the same distribution,
(because of competition and economic rent.)