Latency exists with any medium. Latency isn't really comparable to bandwidth, though a lack of bandwidth can impair latency. Most people aren't connecting to a server that is 3000 miles away from them, they are connecting to a CDN that is strategically located within a few states from them. Even in latency sensitive applications like gaming or VoIP, usually 100ms or less is enough for satisfactory results. Then there are a whole host of things where latency really doesn't matter all that much like file backup or video streaming...