Let me clarify a couple of things.
EBS is essentially a SAN Volume if you are used to working within existing technologies. It can be attached to one instance, but it still has a limited IO throughout. Using RAID can help maximize the IO, provisioned IOPS can help you maximize the throughput.
Ideally however, with MongoDB, you want to have enough memory where indexes can be completely accessed within memory, performance drops if the disk needs to be hit.
Mongo can use Replicas, which is primarily used for failover and replication (You can send reads to a slave, but all writes need to hit the primary), and sharding which is used to split a dataset to increase performance. You will still need to do these things anyway even if you are using EBS for storage.