My gut is that there's a lot more to this, and that it's not broadly true.
I live in the UK and have worked from Australia a few times, and the latency is around 220ms. When typing over SSH, the latency is very noticeable. Not in terms of pressing a key and feeling lag in it showing up, but in a feeling of sluggishness when typing more than a few words at a time. I also notice this feeling in web apps that use React managed inputs for example.
My guess is that while 100-200ms isn't noticeable in one instance, adding that to every interaction in a system that has multiple interactions per second is noticeable.
A similar comparison is that I can't detect audio and visuals being incorrectly synced with much less than 200ms precision for individual beeps, however if I watch someone talking on a TV that's 30ms out I can tell something is wrong (even if I can't tell which direction).