From what I understand about the HTTP protocol is that it is stateless. This means (to me) that is, it is only ever serving one connection at a time.
Even if there is 1,000,000 million users trying to access a site, it can only ever be serving one connection at a time.
So when I see a setting in IIS saying "Maximum number of concurrent users" (or similar) it makes me wonder, what does this mean?