Not necessarily, you might like sophisticated graphics but not play games where latency is particularly important, or just not be annoyed by latency and not interested in competitive play.

Also as an anecdote right now I have 5ms ping to google.com and 1gbps downlink (fiber at home in major city), so it seems like 60fps or maybe even 120fps zero-extra-frames-latency gaming would be achievable there, for instance.