Here's a guess.
S/ATA drives can do about 20 ops at 15-20ms latency. I'm guessing that the high latency line is "other"? If that's the case, it looks to me like you have something doing small amounts of metadata IO which impact one drive at a time, and thus the high latency. When you get to that spike of ops but drop in latency, that looks like a full scale data read, which uses more drives in sequence.