Say we have 100 people and 10 servers. Everyone takes 1 minute to process, except one guy who needs 10 minutes.
With 10 queues and the long taking guy ahead of 9 other people he's blocking all those for 10 minutes. Total processing time 19 minutes. With 1 queue and the long taking guy first (blocking 1 counter for 10 minutes) total processing time is 11 Minutes.
Another way to look at it is that with one queue, everyone gets the minimum possible wait time. In the many queues case you get that only occasionally. You could optimize the many queues so they're just as efficient as the one single queue but you'd have to know everyone's processing time in advance - impossible in a real world setting.