I think you might be underestimating latencies in the real world.
These [0] are statistics from Verizon showing 90ms RTT for trans-atlantic connections. Trans-pacific is > 100ms. 80ms seems highly competitive for me in this context.
there is a video posted in the comments that compares latencies to cables. spacex advertises latencies from 50-80 , but cable is in all cases fasters (rather obvious i think).
These [0] are statistics from Verizon showing 90ms RTT for trans-atlantic connections. Trans-pacific is > 100ms. 80ms seems highly competitive for me in this context.
[0] https://enterprise.verizon.com/terms/latency/