That's talking about horizontal application. (Flat) When it's on edge plywood IS stronger. I guess it's been a while since you've investigated home and commercial building methods...
http://www.firehouse.com/article/10464551/behold-the-beam [h=3]Strength Characteristics of I-Joists Relative to Conventional Wood Framing[/h]
With respect to conventional framing (16 inches or 19.2 inches on center joist spacing), I-joists are 50 percent stiffer than solid sawn lumber. In terms of strength, for simple spans, an I-joist series with the lowest design values (PRI-20) can span to within inches of the strongest solid sawn lumber joist (S. Pine). In multiple span situations, I-joists have an advantage because solid sawn lumber in lengths greater than 20 feet is quite rare and expensive. Building dealers and I-joist manufacturers have substitution analysis software and can provide this service free of charge in most cases.
as you can see they only use 1/2" ply. You could make your stringers like this too!!! Some members have. Again, you can use what you want. Experience teaches plywood is a better choice.