For example if you have 1% chance of dropping a packet, and your conversation involves 1 packet then if you have 10 conversions each with its own TCP connection you will average 0.1 conversations being stalled from packet loss.
But if you multiplex those 10 conversations over 1 TCP connection then you will average ~ 1 conversation being stalled from packet loss.
I'm guessing this is not such a big problem with typical packet loss and a low number of conversations but if you are pushing a lot of conversations simultaneously over a single TCP connection then it could become noticeable.