My dad has been a self taught electronics technician since he was a teenager. He was fixing transistor radios since he was 13. In fact both of my grandfathers were electronics fix-its, but nowhere near at the same level as my dad. A lot of people may not think much of him, but I have always looked up to him...and, frankly, as corny as it may sound, I always hope every cool electronics design/project I complete impresses him.
Anyway, that's just what my dad told me. I don't know if it is true that at least some incandescent lamp dimmers are made almost entirely a single variable capacitor or not, but it sure seems reasonable. And if it is true (back to the first original question loosely regarding lost power), there will be little real power loss - just a crummy power factor.