8 lanes just refers that it has 8 lanes directly on card.
That you can connect 2 cables breaking out to 8 ports without the need for an expander.
The expander works similar to a network switch, the cables back to p408i-a is its uplink.
With 2 cables it aggregates the 8lanes to 8x 12gbit and those 96gbit is shared by the devices on the expander.
In the typical dl380 the expander would have 2 cables to each of the 3 front cages + have 2 spare ports for any drives you have in rear of server.
With a maxed out 30x 2.5" front+back server they share the 8 lanes to server.
You can even add another expander to the expander if you want, the card supports 200+ drives if you keep throwing expanders at it.