Context switching isn't that big a deal, it's actually pretty good for responsiveness since everything isn't being serialised through a single thread. Compare/contrast animgifs on a busy Opera vs a busy Chrome - Opera will regularly freeze momentarily, presumably because of stop-the-world GC.
The bigger problem is having that many tabs open without burning through enormous amounts of memory. Chrome's at least 10x less memory-efficient than Opera in this regard, which isn't great when my Opera sessions regularly run to well over 4GB :)
You are right, your scenario is much more visible nowadays. It's just that I have in mind my old single core CPU and how Chrome managed to grind my system to a halt with only a dozen tabs.
The bigger problem is having that many tabs open without burning through enormous amounts of memory. Chrome's at least 10x less memory-efficient than Opera in this regard, which isn't great when my Opera sessions regularly run to well over 4GB :)