It is effective, but not as a base... That is what the takeaway should be. SF wasn't running it as a base. They use it quite a bit, but it's not what they limit themselves to.
this is the simple fact that people are missing. the answer isn't "the read option sucks and should go away" any more than "the read option is great run it for all the plays" is. san fran got to the superbowl by running it situationally, sprinkling it in so change the pace. as we all know all to well, chudzinski ran it almost as a base set. that was the problem. great scheme, wrong (or inefficient) application.
i expect shula to run a much more balanced offense.
Nobody, in college or elsewhere, use the read option as the basis of their offense. No one run it every time or even a majority of the time. It depends on what the defense is doing.