My own opinion is broadly the same - I think that "effort" is a poor criterion for judging question quality. I have discussed this before. In my opinion, the most important bit is this:
In one of the worst case scenarios, OP's "efforts" are way off the mark and simply become useless noise for future readers. In another bad scenario, OP's efforts are entirely correct and the answerer is reduced to saying "yes, you're right".
So, to begin with, I don't think that having effort is necessarily a good thing. Neither is lacking effort necessarily a bad thing, as will be discussed below. But, not only is it a bad criterion; I'd argue we don't even follow it.
Double standards
In the post linked above, I also wrote
The HW policy is subjective and open to interpretation. There is occasional "misuse" of the HW close reason - not exactly abuse, but different people have different quality standards. Furthermore, what counts as "effort" is unclear. If somebody simply adds a line at the bottom of their question "I tried to look in my textbook, but couldn't find anything", does that count as effort?
This subjectiveness, perhaps, leads to what I would perceive as some degree of a double standard. Basic questions with zero-effort get closed, but advanced questions with zero-effort don't get closed: see Exhibit A, for example.*
In order to further test my perception of a double standard, I created a new account and asked a graduate/advanced undergraduate-level organic chemistry question with next to no effort: Exhibit B.† In 24 hours since it was posted, it got six upvotes and one favourite. No close votes, and no comments saying to show effort. Clearly, people think it is a good and useful question for the site. But other, less advanced, questions have been closed even with more "effort" given.
Aims of the site
At this moment I'd also like to remind everybody of what Stack Exchange aims to be. This is quoted from the very first part of the tour:
With your help, we're working together to build a library of detailed answers to every question about chemistry.
I don't think that this library can only be built if people show their effort. I think the questions that I linked to above are examples which show that so-called no-effort questions can indeed be beneficial. Marko's question (Exhibit A) was pretty interesting and it received a good answer which it fully deserved. I hope that nobody disagrees with me when I say that the site benefitted from that Q+A. I am glad that the community recognises the worth of such questions, but our behaviour is clearly not congruent with the supposed "no effort" requirement.
Even my sock's question is fairly decent, in terms of its value to the site. It could certainly have a bit more context, and I will edit it in in due time, after we are done with this discussion. (I purposely made it as low-quality as I could).
The point still stands, though; I strongly disagree that effort is a good criterion for judging the quality of a question.
$\Large \textbf{What should we do, then?}$ Well, my 2c:
Get rid of the effort criterion for closing questions.
Replace it with a conceptual criterion. This means that even the worst homework questions will not be closed as "off-topic", as long as they clearly identify the concept/issue that is being asked about. However, they may still be closed as duplicates of older questions.
Focus on editing and improving questions, if possible. If you think that a not-so-good question has an interesting concept behind it, and can potentially receive a good answer, then by all means, edit it so that it looks like a good question.‡
Make some canonical Q&As in order to address common homework-type queries - this should be a long-term project; for obvious reasons, this cannot happen overnight.
Martin and I think that a conceptual criterion is the best kind, and AFAIK Physics.SE adopts this viewpoint too. Maybe the community thinks that a conceptual criterion isn't the best idea, which is fine - it's really okay (and it's great) to disagree - but we would really like to hear some alternatives.
Maybe you simply want to get rid of all high school chemistry questions. To be honest, I get this feeling sometimes, but it's obviously an untenable position. I feel that the best way to deal with this is to efficiently close as duplicates (there are only so many high school concepts one can ask about!), and get users to ask more high-level questions, as this recent meta post by NotEvans suggests.
Or maybe the idea is that we don't want to be doing people's homework for them. I can understand why you may have this sentiment, but in this case I'd like to suggest that we stop viewing questions as homework or not - remember this isn't a homework help site and also it isn't a site where homework is forbidden - and judge it solely based on whether you think it could possibly receive an interesting answer which would contribute to the site as a whole.
Footnotes
* Before people accuse me of not unilaterally closing that as a moderator: you know that I already do not think that effort is a good criterion. Furthermore, we cannot always be mod-closing everything; otherwise, there will never be any chance for an organic shift in community consensus. If I had closed this, then I would not have this example to share with you today.
† Obviously, I haven't done anything with my sock that my own account could not do. I also did not upvote that question with my main. It is locked for the time being, only because I want to avoid the so-called "meta effect". In due time this account will be merged with my main account.
‡ In response to hBy2Py's comment about when we should feel free to edit a post, the answer is: always, as long as it is done in good faith (i.e. not deliberately distorting OP's query, for example). Quoting from Section 3 of the Terms of Service:
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