The OS has a rather opaque view on what happens in a thread. It doesn't know how the memory is used or what memory is efficient. The OS can block a thread when it runs into IO, but it doesn't know or care about what other threads in an application it can or should activate.
Fibers bring the threading into the application layer. While the application can't choose which and when a thread runs, it can make choices about which fibers to run. Further, the application knows intimate details about things like the stack of a given thread. When it goes to park a fiber, it knows just how much memory should be saved off so the fiber can resume and it doesn't have to save off all the memory allocated to a thread's stack. Further, because so many programs are stack based an application can pretty smartly save and reuse segments of the stack which are common amongst fibers. So, for example, if you spin off 1000 fibers at one location in code, the stack for those 1000 fibers will be identical right up until the fiber starts executing.
The main drawback of fibers is they can't implement things like fair scheduling. Applications have few ways to park a currently running fiber to let another one run if, for example, the app wants to make some progress on all the fibers alive. The app has to wait for the fiber to hit some sort of IO point in the code or insert explicit park checks (The JVM actually does this for GC purposes. It creates "safepoints" which application threads make a quick check to see if the JVM wants to start a GC). The OS has more power here, it can simply interrupt the thread and start running something else for a given quanta.
The other problem with this sort of benchmark, which is a mistake I also commonly see made by Node developers, is that the Ruby HTTP stack has significant native code in it, like: https://github.com/puma/puma/tree/main/ext/puma_http11 This is a good and proper thing that brings benefits to all involved; it's not like it's "cheating" or anything, it's a real performance benefit. But it does mean when you're benchmarking a simple HTTP server, you're benchmarking Ruby qua Ruby a lot less than you think you are, and so the relevance of such benchmarks to codebases that have actual Ruby in them will be less.
[1]: https://programming-language-benchmarks.vercel.app/python-vs...