With wireless data connections, you're sharing the medium (and therefore the bandwidth) with all other users of the same frequencies. This is the reason that you can have absolutely terrible performance in a densely populated city, despite having a maximum strength 4G signal. Having the 20+Ghz channels enables operators to install a large number of micro-cells in these areas. Even if they don't penetrate walls, moving everyone outdoors on to these cells free's up the lower-frequency cells for indoor users, substantially reducing contention.
Another improvement over 4G that hasn't been mentioned by anyone is, supposedly, that it will significantly reduce latency and interruptions from moving between cells. This is especially apparent when travelling at speed (e.g. on a train).
The effect to consumers of both of these is that we'd get much more consistent performance.