Yes - the stream is blocked until it is signaled that it is waiting. A thread will not be scheduled during its blocking, therefore other threads will receive all the time of the processor.
Note that temporary fragments are not included in it, though. A thread can refuse to execute in the middle of a time fragment and (for example), if what it expects is signaled quickly, it can start execution before its initial time slice expires. When something is signaled, a thread waiting for it can instantly wake up, not necessarily waiting for the end of the time fragment (for example, if the waiting thread has a higher priority than the thread that was started).
source share