Don't be so quick. Don't just consider single link transfers, remember that wireless is always shared bandwidth. If you have a terabit for everyone that means you can have hundreds of megabits for tens of thousands of folks in a small area all connected to one access point / cell tower.
Water vapor in these bands is a strong absorber limiting distance in earth's atmosphere to ~10 meters or less. Subtract a good deal for omnidirectional emissions and decent snr.
Water and water vapor has the same effect on the visual part of the spectrum also, but this doesn't reduce people's enthusiasm for it as a potential communications medium.