Seem more plausible?
These are 16 core machines with 10GbE links. Each core is processing maybe 2 million edges per second with highly data parallel instructions. Ignoring hyperthreading, if these are 3GHz cores (pretty conservative), that means you are burning ~1500 cycles per edge to process an edge. You've got 2 FP ALU's and 2 integer ALU's in each core, not to mention the AGU. You've got prefetchers and completion units that are designed to handle 4-6 instructions per cycle, and that's not for no reason. You can get a lot of work done in one core with just 1000 cycles, let alone 1500.
So I'm not so sure why that would seem incredible.