NO they have more latency because a. They have the route setup diffrently. D. MPLS E. Longer BGP lookups from a larger table. Ladies and gents. DATA does not make money contrary to popular belief.
Services make money, webhosting, Voice, Video.
I like the analogy of a truck, and what you mentioned is true for steaming types of data. Imagine trying to have a real time conversation by writing letters vs. sending email. How many round trip letters do you think you can send by email in the same time to get a reply via smail. I do agree that there are certain ways to impact latency, but propagation delay is a fact of life. The people I know that have starband say that the best they have seen is about 256-384 Kbps.