diff --git a/pageserver/src/metrics.rs b/pageserver/src/metrics.rs
index b684c4fa90..3554a93ed9 100644
--- a/pageserver/src/metrics.rs
+++ b/pageserver/src/metrics.rs
@@ -774,6 +774,7 @@ const STORAGE_IO_TIME_BUCKETS: &[f64] = &[
 )]
 pub(crate) enum StorageIoOperation {
     Open,
+    OpenAfterReplace,
     Close,
     CloseByReplace,
     Read,
@@ -787,6 +788,7 @@ impl StorageIoOperation {
     pub fn as_str(&self) -> &'static str {
         match self {
             StorageIoOperation::Open => "open",
+            StorageIoOperation::OpenAfterReplace => "open-after-replace",
             StorageIoOperation::Close => "close",
             StorageIoOperation::CloseByReplace => "close-by-replace",
             StorageIoOperation::Read => "read",
@@ -840,7 +842,6 @@ pub(crate) static STORAGE_IO_SIZE: Lazy<IntGaugeVec> = Lazy::new(|| {
     )
     .expect("failed to define a metric")
 });
-
 #[derive(Debug)]
 struct GlobalAndPerTimelineHistogram {
     global: Histogram,
diff --git a/pageserver/src/virtual_file.rs b/pageserver/src/virtual_file.rs
index 92a6fe396f..ada7313ba7 100644
--- a/pageserver/src/virtual_file.rs
+++ b/pageserver/src/virtual_file.rs
@@ -312,6 +312,9 @@ impl VirtualFile {
         }
         let (handle, mut slot_guard) = get_open_files().find_victim_slot().await;
 
+        // NB: there is also StorageIoOperation::OpenAfterReplace which is for the case
+        // where our caller doesn't get to use the returned VirtualFile before its
+        // slot gets re-used by someone else.
         let file = observe_duration!(StorageIoOperation::Open, open_options.open(path))?;
 
         // Strip all options other than read and write.
@@ -333,6 +336,9 @@ impl VirtualFile {
             timeline_id,
         };
 
+        // TODO: Under pressure, it's likely the slot will get re-used and
+        // the underlying file closed before they get around to using it.
+        // => https://github.com/neondatabase/neon/issues/6065
         slot_guard.file.replace(file);
 
         Ok(vfile)
@@ -441,8 +447,14 @@ impl VirtualFile {
         // now locked in write-mode. Find a free slot to put it in.
         let (handle, mut slot_guard) = open_files.find_victim_slot().await;
 
-        // Open the physical file
-        let file = observe_duration!(StorageIoOperation::Open, self.open_options.open(&self.path))?;
+        // Re-open the physical file.
+        // NB: we use StorageIoOperation::OpenAferReplace for this to distinguish this
+        // case from StorageIoOperation::Open. This helps with identifying thrashing
+        // of the virtual file descriptor cache.
+        let file = observe_duration!(
+            StorageIoOperation::OpenAfterReplace,
+            self.open_options.open(&self.path)
+        )?;
 
         // Store the File in the slot and update the handle in the VirtualFile
         // to point to it.