I would suggest gaining a better understanding of the M:N threading model versus the N:N threading model. I do not know that I can do it justice here.
Both Java and Rust flirted with green threads in their early days. Java abandoned them because the hardware wasn't ready yet, and Rust abandoned them because they require a heavyweight runtime that wasn't appropriate for many applications Rust was targeting. And yet, both languages (and others besides) ended up adding something like them in later anyway, albeit sitting beside, rather than replacing, the traditional N:N threading they primarily support.
Your question might just be misdirected; one could view it as operating systems, and not programming languages per se, that screwed it all up. Their threads, which were conservatively designed to be as compatible as possible with existing code, have too much overhead for many tasks. They were good enough for awhile, especially as multicore systems started to enter the scene, but their limitations became apparent after e.g. nginx could handle 10x the requests of Apache httpd on the same hardware. This gap would eventually be narrowed, to some extent, but it required a significant amount of rework in Apache.
If you can answer the question of why ThreadPoolExecutor exists in Java, then you are about halfway to answering the question about why M:N threading exists. The other half is mostly ergonomics; ThreadPoolExecutor is great for fanning out pieces of a single, subdividable task, but it isn't great for handling a perpetual stream of unrelated tasks that ebb and flow over time. EDIT: See the Project Loom proposal for green threads in Java today, which also brings up the ForkJoinPool, another approach to M:N threading: https://cr.openjdk.org/~rpressler/loom/Loom-Proposal.html