Most of this is due to satellites being in geosynchronous orbit, which is ~40,000km away. This trend will likely slow or even reverse a bit once the big LEO constellations are launched (some are being launched at ~400km altitude).

25ms local ping times (eventually 10ms as the 340km altitude constellations launch) near-term and long-distance pings actually better than fiber. And with enough throughput to actually make a difference vs fiber.