Hmm, I guess you're right. It's more close to Java then JavaScript. The simultaneous processing should speed up request processing time. Never thought the lousy JavaScript will rise to the level of server side program...
Things regarding what it can do and cannot still don't seem to clear. I've skimmed over the Wikipedia article and all I learned that it may have the ability to run without apache or such. That makes it closer to Java applets (which still requires java to be installed on your system).
Wikipedia link in case anyone wants to have a read though:
Code:
https://en.wikipedia.org/wiki/Node.js