If you look at the per cpe traffic charts for each of the 32 customers on your typical 32:1 oversubscribed GPON connection, each individual one doesn't move that much traffic at all, relative to a chart that's scaled to 1Gbps on the Y axis.
With very basic CWDM you can push a ridiculous amount of data through just one strand of good sm fiber.
Docsis3/3.1 cable internet is worse because it's reliant on asymmetric use of downstream rf channels and much more limited bandwidth in the coax (though, they do still achieve 2048 and 4096qam!)
If you have a very small piece of rf spectrum like some tiny fraction of one 36MHz satellite transponder and you then oversubscribe it 32:1 or worse and also have to use fairly rudimentary loose modulations (very poor bps/Hz compared to terrestrial wired line modulations) at geostationary link budget distance, yeah, it's gonna suck.
It's more like, imagine you had fifteen people with laptops all connected to a single 802.11n AP from 12 years ago and you're all trying to torrent the latest 5GB debian install iso at the same time.
I can tell you what the latency is on fiber from the Redmond or North bend Earth stations to downtown seattle, and it's minuscule. Same as if a person was a customer on a docsis3 or GPON network in Redmond.
https://twitter.com/elonmusk/status/1415480145830465539?t=O9...
If you recall there was non-stop chatter about how HFT would be using Starlink because the latency was so low, or that it would replace fiber because the latency would be lower. It was all fake. The latency will be 30-40ms nominally for most users. That's great (it's just okay for LEO) for satellite, but let's not pretend it's anywhere near what the goal was.