I'm of the opinion that we chose the wrong term for concurrency. Concurrency means multiple things going on simultaneously, which is not what's happening with our version of it. Only one thing is happening at any given time, but the tasks are being multiplexed on a shared resource. Parallelism = concurrency, "concurrency" = multiplexing.

Maybe there's a more appropriate term than multiplexing, but I think that's certainly better than concurrency at describing it.