I totally agree with you WES, it is a function of thrust to drag ratio. They are both important. In fact, that ratio is what will determine your maximum speed. I guess the point that I did not make very clear is that I’m thinking a monofin already has pretty good thrust. I have no doubts that it is possible to increase that thrust through more efficient hydrodynamic propulsion, but without lowering the drag, I’m not sure you can make enough difference to get the effect we all are looking for.
Keep in mind, humans are power limited. If we assume a monofin has 50% thrust efficiency and can propel a good fin swimmer at 6 knots in a sprint, raising the thrust efficiency to 100% will raise the swimming speed to only 7.6 knots (there is a cube-root relationship between power and speed). This would be the theoretical limit of performance gain without somehow getting more power into the system because attaining more than 100% thrust efficiency would violate the laws of physics. Whereas 6 knots has the potential to elevate a swimmers center of mass about 48 cm above the water, the extra 1.6 knots resulting from the increased thrust would only be worth an extra 3.5 cm of additional altitude in a breach. That is a mere 7% improvement in exchange for a doubling of the thrust.
However, lowering the drag does not have the same effective limit to speed because the drag term is in the denominator. Cut the drag by 1/2, and you get the same effect as doubling the thrust from 50% to 100%. But, it is theoretically possible to reduce the drag by more than 1/2. It could theoretically be reduced by 3/4 with appropriate streamlining, which would give you a maximum speed of 9.5 knots without improving the propulsive efficiency. Cut the drag by 7/8 and you would achieve 12 knots.
The bottom line is that, we should not expect any fin, no matter how advanced and efficient at producing thrust, to make a huge difference in how fast a finswimmer can go, without also addressing the overall drag of swimmer/fin combination as well.