Due to the high demand in consumer electronics - especially lighting applications - both "blue" semiconductors (mainly GaN) and phosphor coatings have been developed further and further in recent years. Green LEDs are only used in niches. This is especially true for green high-power LEDs, because efficiency is much less important in low-power applications like LED displays or signalling.
Some time ago I developed a framework that allows me to convert all various photo- and radiometric units into each other based on the corresponding spectra.
I can confirm that your conversions between luminous and radiant/electrical efficiency are correct.
However, I don't agree that green LEDs are as inefficient as you say. The LED you refer to is simply an example of a particularly bad LED.
For the famous LM301B white LED (operated at 100mA, which is half abs max),
I get a radiant efficiency of ~70% and a luminous efficiency of 220 lm/W.
According to my framework, the GT QSSPA 1.13 (521nm) by Osram has a radiant efficiency of ~30% (140 lm/W) at Imax/2.
Even though this is obviously much worse than the LM301, it's still much better than what you assumed.
One should not forget that LEDs have improved greatly in the last years and the efficiency of less important colors is simply still at the level that was common a decade ago.
When I look at the other LEDs I deal with, there is clearly a correlation between the efficiency of an LED and its demand on the global market. For example, the efficiency of red LEDs, which play a role in the automotive market (tail and brake lights) or in plant lighting, has improved greatly as well. On the other side: if you take a look at how other colors like yellow, far-red or UV perform, you'll see they are all more or less at the level of green ones.
So the simple answer is: a lot of effort has gone into improving certain LEDs.
Another point is, that cheap no-name LEDs generally perform much worse than those you get from reputable manufacturers which are specialized in LED manufacturing. A comparison is simply not fair.