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This is possible with public transportation too. Trains run express and skip stops all the time. I think that would be too much hassle with buses but it's possible.
I have seen full or near-full buses skip scheduled stops to alleviate this. Although from a waiting passenger's POV, having an already delayed bus that has space left zoom past you without stopping is pretty infuriating...!
This way the bus that caught up will now risk slowing down (dealing with fuller stops), but the original full bus that was slow is likely to not speed up that much, having an above-average number of potentially disembarking passengers.