> There's nothing stopping them from improving their own services.

Except the laws of physics I guess. Geosynchronous orbit is about 36,000 km out so best case scenario if you were going straight up to a satellite in such an orbit and back down even at the speed of light in a vacuum that’s a lower bound of a quarter of a second of latency. So unless these legacy satellite internet companies launch LEO constellations of their own, which there’s no indication they’re capable of doing, it seems pretty hopeless for them.