They are doing 10 Gb/s over each fibre, to get to 10 Gb/s you have already undergone a parallel -> serial conversion in electronics (clock rates of your asics/fpgas are much lower), to increase the serial rate is in fact the bottleneck. Where the actual optimum serial rate is highly depends on the cost of each transceiver, e.g. long haul optical links operate at up to 1 Tb/s serial rates while datacenter interconnects are 10-25G serial AFAIK.