Bandwith, yes. "Latency", not so much. We talk about a latency of milliseconds being important for e-commerce, online trading, API Access, but a sneakernet has a latency of at the very least days for the most "interesting" stuff, and months for other content.

So yes, the sneakernet can be used to distribute education materials, movies, texts and the like, but the real benefits of the internet only develop with low latency and multidirectional communication.

Yep, my first thought went to my Amiga days of passing floppies around. Then later DOS and early Win9x that was first floppies and then CDR based. Then came LAN parties...