A student argues that phagocytosis is a wasteful process because

A student argues that phagocytosis is a wasteful process because after engulfed organisms are digested and destroyed, the remaining material is excreted from the cell. A more efficient process would be to release the digested material inside the cell. This way, the material and enzymes could be reused by the cell. Does the student have a valid argument?
Why or why not?