No, I don't think the way you're characterizing this is accurate. I/O is inherently very slow compared to computation. And many programs genuinely don't have any useful computation to do while waiting for I/O - because the result of that I/O operation contains the information needed for the program to even make its next decision.
Such programs are not necessarily impossible to optimize. One common optimization is to use an event loop, allowing just a few threads to handle thousands of concurrent operations. Because while a thread is waiting for I/O in one request or unit of work, in the meantime it moves on to work on processing another request/unit. Another common optimization is batching/grouping of I/O calls.
Such programs are not necessarily impossible to optimize. One common optimization is to use an event loop, allowing just a few threads to handle thousands of concurrent operations. Because while a thread is waiting for I/O in one request or unit of work, in the meantime it moves on to work on processing another request/unit. Another common optimization is batching/grouping of I/O calls.