It's much simpler than that.
10Mb cards are usually based on early ethernet designs like the ne2000. Those designs are quite old, and they only act as transmiter and receiver devices. All the packet cheking and buffer control relays on the system's cpu. It implies checking the destination MAC address, calculating the CRC checksum of received packets, discarting bad ones, set and control of the reception buffer, and all this stuff. So, on slow cpus, It's a very high load.
Those are very bad designs, but they were very common long time ago.
100mb design are based on new designs, with dedicated MAC controllers that hide all that things to the cpu. The CPU only have to get the packets from the card's buffer ready to be used.