I'm not familiar with the jargon either, but based on some reading it comes down to how the latest kernel treats process preempts.

Postgres uses spinlocks to hold shared memory for very critical processes. Spinlocks are an infinite loop with no sleep to attempt to hold a lock, thus "spinning". Previous kernels allowed spinlocking processes to run with PREEMPT_NONE. This flag tells the kernel to let the locking process complete their work before doing anything. Now the latest kernel removed this functionality and is interrupting spinlocking processes. So if a process that is holding a lock gets interrupted, all other postgres spinlocks processes that need the same lock spin in place for way longer times, leading to performance degradation.