I do BIAB with a good squeeze or three. My wort never starts out clear but my beer ends up clear and tastes good. I see some comments from folks who say they love how clear their wort is going into the boil. Why is that a good thing? Can I improve my beer by improving the clarity of my wort?
I say experiment for yourself and see whether you notice an improvement. But if you like how your beer tastes, don't feel the need to try to fix something that isn't broken.
FWIW, I BIAB, but in a cooler rather than the kettle (to help maintain mash temps primarily, but I have since found other benefits that work for my brewing). I squeeze the grain bag, because that gets me to a consistent efficiency % that I have calibrated my system to. I end up with cloudy wort in the kettle, but my finished beer turns out fine.
One test that I have done is adding a vorlauf prior to pulling my grain bag. I ended up with clearer beer into my kettle, but I noticed no difference in my finished beer. Needless to say, I don't bother with a vorlauf anymore. I'm looking to simplify my brewday whenever possible, and this step didn't prove to be worth the extra time for me. YMMV, but if there's a way to test it for yourself, I'd encourage you to do so.
Regarding efficiency, I don't know if squeezing a grain bag is an apples-to-apples comparison with oversparging. Both increase your efficiency, but squeezing doesn't change your pH or sugar concentration. It merely reduces your loss to grain absorption/dead space.