I consider Apache to be more of an origin server - running something like mod_php or mod_perl to generate the content and being smart about routing to the appropriate system.
If you are getting thousands of concurrent hits to the front of your site, with a mix of types of data (static and dynamic) being returned, you may find it useful to put a more optimised system in front of it though.
The classic post-optimisation problem with Apache isn't generating the dynamic content (or at least, that can be optimised for early in the process), but simply waiting for a slow client to be able to receive the bytes that are being sent. It can therefore be a significant advantage to put a reverse proxy, in the form of Squid or Nginx, in front of the servers to take over the 'spoon-feeding' of the slow network clients, while allowing the content production to happen at full speed, and at local network speeds - 100Mb/sec or even gigabit speeds - if it even has to traverse a network at all.