Sysbench is a client of MySQL. It can start a number of threads, one per connection.
When not using a thread pool in MySQL Server, every client connection starts its own thread. So there's a one-to-one correspondence between sysbench threads and MySQL Server threads.
It's typical that a client connection is not running a query every second. Normally a client application runs other code in between waiting for queries. So on the MySQL Server side, some threads exist, but they aren't doing anything. This appears as "Sleep" in the processlist.
It's pretty common to have hundreds of client connections open, but only one or two dozen of these connections doing any query at any given moment. The others are all sleeping.
As a metaphor, I would compare this to customers in a bank, where they approach a teller's window and do transactions. The customer blocks others from using the same teller, even if the customer is signing a form or something else that is not talking directly to the teller.
When using a thread pool, threads are handled differently in MySQL Server. The thread pool feature exists so that a smaller number of threads in the MySQL Server can be shared by a greater number of client connections. The threads in MySQL Server are no longer corresponding one-to-one with client connections. They switch when a client connection requests to execute an SQL query. This is done to reduce resource usage when your clients open a large number of connections.
A metaphor for this is a restaurant where a single server can handle a whole section with customers. The customers only need attention from time to time, and the server can therefore keep track of multiple tables of customers.
In the case of sysbench, this is probably not a typical workload. The client threads are running SQL queries more rapidly than a typical application. If you try to use a thread pool in this case, you might have more client requests than the number of threads in the thread pool, and in this case the client requests might queue up.
In the restaurant metaphor, this would be the infrequent times when more than one table wants something at the same time. Then all but one of the tables must wait, but hopefully not for long since most customer requests are brief.
Using the thread pool in MySQL Server while testing with sysbench might not be the best way to measure the maximum throughput of queries.