Actors are independent agents of computation, each one is executed strictly sequentially but many actors can be executed concurrently. You can view an Actor as a Thread that costs only about 0.1% of what a normal thread costs and that also has an address to which you can send messages—you can of course manage a queue in your own Thread and use that for message passing but you’d have to implement all that yourself.
If Akka—or the Actor Model—stopped here, then it would indeed not be very useful. The trick is that giving stable addresses (ActorRef) to the Actors enables them to communicate even across machine boundaries, over a network, in a cluster. It also allows them to be supervised for principled failure handling—when a normal Thread throws an exception it simply terminates and nothing is done to fix it.
It is this whole package of encapsulation (provided by hiding everything behind ActorRef), message-based communication that is location transparent, and support for failure handling that makes the Actor Model a perfect fit for expressing distributed systems. And today there is a distributed system of many CPU cores within even the smallest devices.