Nah, coroutines/async/etc often lives in various threads (ie, the workers can schedule one of them on different threads during the lifetime and they live concurrently), so you still have all the issues of threading (+ new ones since things like thread-local variables aren't reliable if an async/coroutines moves threads between calls).

The main benefit is not having the cost of threads, f.ex. a default thread on Windows has something like 500k of stack iirc, scale that to 10000 concurrent requests and you're looking at 5gb of memory _just for stacks_, compared to a couroutine,etc that has perhaps a few kb's of usage (even if in deep stack-traces).

This is why we have stuff like io_uring these days, the bottleneck moved to the kernel calls (especially with Spectre style attacks) when concurrent costs in the applications went down.