A good example of how far the situation came is described here: https://abovethelaw.com/2010/06/do-lawyers-actaully-read-boi...

>Judge Posner at ACS panel: For my home equity loan, I got 100s of pages of documentation; I didn’t read, I just signed. #ACS10 #Posner #LOL

Isn't that a more efficient use of time? The terms aren't negotiable other than walking away.

I am not so sure about it. The contract might contain something substantially adverse to you and still be enforceable. For example, in some EULAs I saw a paragraphs completely forbidding you to compete with any products of the company.