> If you just synchronously run A then B, the overall time would be shorter (higher throughput) because of less context switching overhead.
There are no context switches: async/await isn't threads. The compiler generates state machines which are scheduled on a thread pool. Basically, each time an event happens (eg, database request completes or times out, or a new request arrives), that state machine is scheduled again so that it can observe that event. This doesn't involve context switching: you can have 1 thread or N threads happily working away on many concurrent tasks without needing to context switch between them.