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"They aren't magically more efficient than other sites"It's certainly not magic but good architecture decisions and solid engineering. This includes choosing SQL Server over other databases (especially when they started), using ASP.NET server-side as a monolithic app with a focus on fast rendering, and yes, scaling vertically on their own colo hardware. The overall footprint for the scale they serve is very small.
It's the sum of all these factors together, and it absolutely makes them more efficient than many other sites.