The understanding that a processor is only able to do one thing at a time is still hard to take on board. During my early studies I found this to be the case - its something I hadn't even thought about - I assumed multi tasking was just that, a system able to run lots of things at the same time.
Its only when you look into a processor and see the registers all saving away to memory then being interrupted or polling devices such as USB or any other input/output thousands of times a second that you actually do realise one processor means one process at a time.
The Cloud chip could run 48 operating systems at the same time which is amazing - however each is still restricted to executing one process at a time.
Mind blowing stuff though for the hardware architecture it's aimed at.