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Originally Posted by
GrumpyDiver
Actually, in theory I believe the limit is around f/0.5 for a standard lens (one can do better if you start introducing mirrors into the design). In practice, the optical (quality) and cost trade-offs are such that very few commercially available lenses are anywhere near f/1, and none of these are zoom lenses.
The only current mainstream (if you call Leica mainstream) lens is the Leica Noctilux-M 50 mm f/0.95. Cosina manufactures a few models, primarily aimed at the MFT market, and there are some smaller players making speciality lenses. Optical performance (resolution) wide open is not as good as lenses that are a stop or two slower.
It’s only wasteful, as you put it, if the output were of sufficient quality to make it useful, and unfortunately, it is not, otherwise some lens manufacturer would be doing so.