Varnish (HTTP caching only) also uses one thread per client. I believe worker threads are used to handle reuqests while a dedicated thread handles all the idle connections between requests using epoll(). Also per-threads stack size is lowered so thousands of threads don't occupy massive amount of memory.

Single threaded HTTP servers have their own issues. If the bottleneck is the storage then lack of async open()/stat() and some other calls is problematic. We feel that serving hundreds of millions of files (long tail content) from slow storage using nginx. For that reason you can configure nginx to spawn multiple processes.