Comment by curiousDog

Seems like you're looking at it solely from a web server/application back-end perspective. Async I/O and the corollary, freeing up threads, is useful in lots of other places like UI or applications that require very low latencies (We had a distributed process that had to respond to heart-beat requests from other machines amongst other I/O bound requests. Tying up threads when doing I/O would've been a death sentence).