Oh the waste is horrible with default settings. I did two size 7 rings with two different colors and with the default settings, it makes a purge tower, flush purge, et. al. and I used like 1700% waste. 
However, just disabling the purge tower and setting a proper flush purge isn’t horrible it’ll always be worse than having multiple toolheads that don’t need the purge. It can be even better with proper flush into infill and get close to the multiple toolhead use. However, I’m not that skilled yet, and I’m sure it’ll require sizeable prints to have enough infill to flush. I should do more tests to see if I can almost zero out my waste (and how small of a print it takes to do so).
EDIT: I also will say, while the new bells and whistles are nice, like the auto leveling with the load cell, etc. Some times, an old style 3D printer is faster. Especially on smaller prints. I’ve had prints take more time with the printer doing all the fancy calibration and loading filament than actual printing. Whereas my old printers (like my Prusa or Sovol machines with filament already loaded) just heat and go. So there’s always a tradeoff.