Latency is a factor though, as latency affects things like your time to switch weapons, damage registration, enemy spawn time, menu loadings, area loadings, things like that.
For the most part though you won't notice it unless you're trying to be fast.
I play with over 350ms and have no trouble switching weapons, damage popping, enemy spawns, menu loading or anything. Despite my shit connection many times I'm the first one to load in areas. So, uh, idk