If they had a way to have almost unlimited ground targets (maybe using a rotating mirror, or something like https://www.kickstarter.com/projects/117421627/the-peachy-pr...), I could deal with the not so bad ~240ms lag for most of my communications (if you aren't gaming), especially if it's faster then my slow cable connection....

Speed of light: ~299,792 km / s Geostationary orbit distance from earth: ~35,786 km