Networks are thousands of times faster in bandwidth, but they don't have thousands of times less latency. Software is actively working to overcome the limitations of latency, such as with HTTP/2, HTTP/3, and TLS 1.3.
For a page load, why should latency matter once you get below 50 ms? The problem isn’t latency, the problem is that the software stack makes tons of round-trip requests to display some text and images. The modern web makes X11 seem like it was designed by a demoscene coder.
X11 doesn't even do any image compression. X11 seems fast because everyone uses the DRI and/or MIT-SHM extensions to hack around the fundamental brokenness of the protocol, at the cost of network transparency. :)
> he problem is that the software stack makes tons of round-trip requests
Latency matters because of all of those round-trip requests. Each individual request incurs at least 2x the network latency value (one network latency trip out to the server, another network latency trip back). If browsers did not try to run parallel requests, then all those round trips would sum up to a substantial overall delay.