Comment by chroma

The alternative to the market served by satellite Internet isn't fiber, it's nothing (or in some cases, cell towers). To address your point: The satellite network would almost certainly be in LEO. There's no fundamental reason why LEO satellites should have high latency. They're only a few hundred kilometers out, so round trip times are measured in single digit milliseconds. GEO sats have latency (and bandwidth) issues due to their distance from the surface.