To be clear, that would mean that all stocks would be perfectly priced based on available information. But available information presumably includes uncertainties, and some companies will do better or worse than expected. It would mean that there'd be no gain in purchasing one company over another, or that there's no "cheap deals", but it wouldn't mean that money in the market wouldn't grow, nor change the fact that the S&P is likely your best option.

It might be that's all you meant by the above, in which this is merely an elaboration.

That should be the goal, right? Good ideas get the funding they need as if by magic, yet nobody is sitting on the sidelines collecting rent.

The best thing that AI can do for finance is eliminate it.

A perfectly efficient market is the asymptote, you would never actually reach it.

In any case, if everyone had an omniscient genie, then free will would clearly not exist the way we understand it. That doesn't sound like a fun world, regardless of financial markets!

I get that the perfectly efficient market is more of a model then something existing in reality, but who would be doing the arbitraging here?