I must be having a stroke, but I could have sworn I saw use of the word "bandwidth" earlier in the conversation. Must have crossed wires from another conversation I was reading, so my apologies. This isn't meant as an explanation as to why you were wrong (because I don't think you were actually), but just to try to ensure we're all on the same page regarding terminology.
"Speed" as you know has no real defined meaning in the context we're talking about. Fast speed might be observed for a user downloading a big file on a fat pipe even with 2000ms latency. And that is fine over a time scale of a few minutes or hours to download a large file.
And that same line may be complete shit when you try gaming where each discrete unit of application data TX/RX is measured in a few kilobytes. This would be sequences of data defining coordinates of player, coordinates of player aim, duration of click (start/continue automatic fire of gun), roll command, etc. Doesn't matter how fat the pipe is if latency is shit. All that could be said of this fat/high latency pipe is that it could handle a vast number of concurrent players on it otherwise without adding to latency due to client side congestion (ignoring issues of saturation at the upstream shared junctions)
And a thin/low latency line will have terrible performance on large files but can handle the few KB consistently fed through it. And if consistently low latency, would give a good gaming experience.
Then you've got jitter. Variance of latency over time. This is what can result in a lot of the "time dilation" scenarios in shitty netcode such as in this game. This can happen as a result of latency variability anywhere upstream of the client (literally anywhere I mean). This is what causes situations like cleaners sprinting toward you at ludicrous speed beyond their normal speed boost. The jitter can result in bunches of out-of-order packets which are waiting for the response to come back from packets sent before, and when they arrive (or are interpolated upon failure) the application has a large chunk of data to process in a GREATLY compressed time frame compared to the duration of the requests submitted corresponding to the responses coming back from Massive's servers.