[tialaramex]

We're not "iterating through the bucket" in the sense you mean. There's a control word which tells us which slots might have our key, and so we never need to look at keys which do not match the byte from our hash used in the control word.

In most cases there are zero or one matches in the control word, so the interleaving could not help us, but it would still hurt us if N=1 and it's a match, which is the common happy path when keys looked up always or almost always exist by design.