This is a fork of the “network performance” topic, since it is a speculative.
It stands to reason that the ongoing rapid reduction in the cost of processing power (Moore’s Law), and of storage capacity, will eventually enable something like a Cubesat in low-earth orbit (160km) to communicate via laser with a node on the ground (directly below) at gigabit speed and latency under 1ms (see my comment above and do the sums). You’re still going to have a lower limit of 69ms from one side of the earth to the other (due to the speed of light) by relaying between satellites, but for a geographic region such as a province or small country it looks very good.
But that is a way off, don’t expect to see it for another decade at least. And this scenario assumes that the rulers don’t just ban private space activity.