I don't have the whole story for you, but the key is that SpacetimeDB transactions are not interactive. The TigerBeetle team talks about this a lot as well.
The TL;DR is that because you're not holding locks across the network (as is the case in Postgres), your server code can complete transactions in single digit microseconds, rather than milliseconds. And the practical effect is you can do many more transactions per second as a result.
Would it be correct to say that this is an example of the “Actually Serial Execution” strategy for implementing serializable transactions in the terminology of “Designing Data Intensive Applications”?
(I mention this mainly as a keyword that people can look up for more information)