Providers just don't seem to care. My internet connection is a hundred times faster than it was in 2004 but I'm still playing games with the same 50ms-60ms of lag. Sure the speed of electrical signals in wire is a good chunk of it but there's still so much room for improvement.
> but I'm still playing games with the same 50ms-60ms of lag
What kind of lag, though? Input lag has actually gone up in the past 15 years (e.g. due to displays and USB device polling). These things add up quickly and it doesn't even have to be just the network that introduces lag.