No it doesn't, capacity is determined by all lanes, once offside lanes start becoming saturated, the lanes to the nearside start getting busier - peak flow comes at a lower speed than the national speed limit, the actual figure will depend a lot on driver gap acceptance, the proportion of large vehicles, geography, weather, glare from sunlight etc, but would be somewhere in the 30-40mph range.
Fair enough, the capacity is always there but as most cars will not "undertake" i.e. utilise the unused capacity in lanes one and two, you get a lot of unnecessary bunching in the outer lanes.
Is that not because of the stupidly large number of trucks in lane 1, and the occasional truck in lane 2 overtaking someone with a speed difference of about 2mph at most. When I drove up to Nottingham from London in mid January, I spent a lot of time in Lanes 3 & 4 simply because there was rarely a break in the traffic in Lane 2 worth going into.
I can see the scenario, but this doesn't occur anywhere near as much as 50% of the time.
"There's no point moving in as I'll need to pull out again in a mile's time" is not a valid argument for staying in the outer lanes when the motorway is busy. In France, most autoroutes are 2 lanes and cars will pull in right away to let traffic behind past. They're also able to easily join the outside lane due to the non-defensive mentality of more French drivers. The muppets on French motorways tend to be the Brits and the Belgians!
In the UK we hate letting cars past even if they're obviously going to disappear into the distance. Also, the car passing will often not execute a passing manoeuvre cleanly, leading to blocking in which I guess leads to the insecurity of those staying in outer lanes. And if, with our warrior-like mentality in our cars, we've already conquered the outside lane, we're certainly not going to let anyone else out in front of us!
Our roads are made less efficient by our psychologically-driven behaviour.