"For the lowest possible latency, FarPlay establishes peer-to-peer connections between users": Except when the peers are on different ISP networks and the packets are forced to travel to some distant node, introducing latency at every node along the way. In my experience with this issue using Jamulus, having a server in the cloud at a suitable location reduces latency. Minimizing "the distance travelled" isn't important if there are few nodes introducing latency. The speed of light along wires is orders of magnitude faster than the speed of sound through air.
"the faster your connection, the better your results will be"; Misleading; it's latency not bandwidth that's critical and a "fast" connection normally refers to bandwidth.
Anyone interested in audio over the internet should check out Jamulus at https://jamulus.io/