Cursor sharing is (or was) a big advantage over the competition.
Basically, the same query plan is used for matching queries. An application will have a standard set of queries it issue (eg get the orders for this customer id). The simple way is to treat every query individually, so if you see 'SELECT * FROM ORDERS WHERE CUSTOMER_ID = :b1', you look at whether table ORDERS has an index on CUSTOMER_ID etc. As a result, you can spend as much work looking up meta data to get a query plan as actually retrieving the data. With simple keyed lookups, a query plan is easy. Complex queries with multiple tables joined on skewed columns are harder.
Oracle has a cache of query plans, and older/less used plans are aged out as new ones are required.
If you don't cache query plans, there's a limit to how smart you can make your optimizer as the more smarts you code into it, the bigger impact you have on each query processed. Caching queries means you only incur that overhead the first time you see the query.
The 'downside' is that for cursor sharing to be effective you need to use bind variables. Some programmers don't realise that and write code that doesn't get shared and then complain that Oracle isn't as fast as mySQL.
Another advantage of Oracle is the UNDO log. As a change is done, the 'old version' of the data is written to an undo log. Other database keep old versions of the record in the same place as the record. This requires VACUUM style cleanup operations or you bump into space and organisation issues. This is most relevant in databases with high update or delete activity.
Also Oracle doesn't have a central lock registry. A lock bit is stored on each individual data record. SELECT doesn't take a lock. In databases where SELECT locks, you could have multiple users reading data and locking each other or preventing updates, introducing scalability limits. Other databases would lock a record when a SELECT was done to ensure that no-one else could change that data item (so it would be consistent if the same query or transaction looked at the table again). Oracle uses UNDO for its read consistency model (ie looking up the data as it appeared at a specific point in time).