Then you didn't get the point. GPU doesn't need to do multithreading between applications, but between rendering tasks. In simple terms -- say that in order to render the next frame it needs a texture with higher level of detail which is not in local memory and it stalls waiting for DMA transfer to finish.
In the meantime you turn sharp 180° in your shooter because a zombie is attacking you from behind. With DX10.1 GPU will not wait for above mentioned texture to load but will jump to render what is behind you, because it already has all textures/data in memory for that view.
Without DX10.1 your game will freeze for a split second and you will be dead.