I assume by real-time he meant "able to produce samples at a rate equal to or higher than the audio output sample rate".
So realtime might match your definition, but it is consistent in audio production.
For humans, you can start to notice the lag @ 50ms. (A selection of experimental results summarized here https://gamedev.stackexchange.com/a/74975)
(jk)
You can learn to play it. Pipe organs routinely have more than 50ms latency just from the distance the sound has to travel from the pipes to the organist. Add the time needed to set up steady oscillations in large pipes, and the slow pneumatic actions found in some organs, and >200ms latency is nothing unusual. The important thing is that the latency is consistent.