Well, yeah. Still, Rails is much slower than Phoenix by the mere fact that its templating and ORM facilities are extremely inefficient.
It's not that Ruby is 100x slower than Elixir (of course it's not). It's just that Rails is so inefficient compared to Phoenix.
Sinatra, Phoenix, Rocket.RS, and a ton of others are specially crafted to stay out of your way and utilise the CPU as less as possible. And yep, as we both agree, in these cases the 3rd party I/O is the bottleneck.