I'm in Canada. We've been used to daytime running lights for a loooong time now.
I don't think I'm wasting power, my bulb, both beams draw the same power - 55 watts?
Been doing it this way for years, as have lots of friends. Maybe it's an 'old biker' habit kind of thing, I've heard it discussed many times in the past, too. Never had a complaint, never been flashed by an oncoming vehicle during the day, and it's never bothered me when I see a bike coming towards me during the day with a highbeam on. Can't see it's any more distracting or irritating than a headlight flasher! It's really quite common around here, I see it all the time. It's not a problem during the day! My light isn't that bright!
I rarely ride at night. I rarely pass anybody. Even if I do pass someone, I don't think I've ever flashed my lights, in anything I drive on the road. I save that for the track. (I'm pretty sure if I pulled the trigger on the flasher, my low beam comes on too? Can't say from here...
) And a loooong time ago, I did have a low beam pop on me at night on the way home from work, and despite my best efforts to stay to the far right of the lanes, driving the rest of the way home with my high beam on definitely pissed some oncoming drivers off - for all the right reasons.
Not recommending this be done, not arguing that it's a better idea than anything else. It's just something I do and have seen done around my area for decades, and I gave my reason for doing so.
Do what you do to suit your driving style, this works for me.