Plus, if you write threaded code, you can change the runtime out. Rust guarantees all the hard parts, anyhow. I wouldn't even be surprised once Rust settles down further it turns out there's some sort of hybrid solution that is better than either 1:1 or M:N on its own because it has superior insight into what its functions are doing.
However, if you are sitting down in front of an editor, faced with the task of writing a network server, and you immediately reach for the overcomplicated solutions like this rather than starting with threads, you are paying an awfully stiff development price for a performance improvement that probably won't even manifest as any useful effect, because the window where this will actually save you is rather small. If you're sitting at 90% utilization, and this sort of tweak can get you to 80% utilization, that's essentially a no-op in the network server space, because it means you still better deploy a second server either way. If you're close to a capacity problem (and the code has been decently optimized to the point where that's not an option anymore), the solution is not to rewrite your code to squeeze out the 10% inefficiency in stack handling, the solution is to deploy another server, and if a rewrite is needed, rewrite to make that possible/effective/practical.
In the Servo design space, it makes perfect sense to be upset that you lost 10% of your performance to green threads, because that's time a real human user is directly waiting, and what does a web browser need with 10,000 threads anyhow? (I mean, sure, set one the deliberate task of using that many threads and they can, but in practice you'd rather be doing real work than any sort of scheduling of that mess.) In the network space it's way less clear... if your infrastructure is vulnerable to 10% variances in performance, your infrastructure is vulnerable to 10% variances in incoming request rate, too.
(10% is a bit of a made up number. I believe, if anything, it is an overestimate. Point holds even if it's a larger number anyhow.)