The big difference appears to be that async Ruby does not merely give you an easy sugar to perform the sync-over-async antipattern you have described. The real innovation is that, as far as the user is concerned, Ruby is magically turning blocking methods into non-blocking ones.
Hm, the first commit to the gem was in 2017. The gem was not "advertised" so that the interfaces can be polished and done right.
Async gem is hugely improved with Ruby 3.0 release (from December 2020) when Ruby language added "fiber scheduler" feature just to integrate better with Async gem.
If you don't, you'll notice that your Action Cable latency will be all over the place when a transaction request comes in.
It's acceptable for "hobby" use, but if you try to provide a good user experience with reasonable latency, you can't just collocate Action Cable and the rest of Rails in a single process.