[tsimionescu]

It's still a form of parallelism, that could in principle be written into the program instead of being automatically implemented by the processor.

For example, in hand crafted assembly programs, it's sometimes common to know how long a fetch operation lasts, and manually schedule operations such that they can be executed in parallel with the fetch operation.

Theoretically a high level language could also be designed to expose this kind of logic to the programmer. A program in such a language would be expressed as a set of very very short threads that can be interleaved by the compiler given precise knowledge of instruction timers.