That many long-running transactions seem like a pretty unusual workload to me and potentially running into isolation issues. I can see running a few of these, but not a lot, especially at the same time?

A few (single digits, maybe low double digits) per database CPU core isn't necessarily too much, of course the pattern can be conflict-heavy, where it would be problematic, but this is not about absolute concurrency but about concurrency needed to saturate CPU.