It's not always going to be peak demand, but it'll be noticable when everybody piles on at particular times of day.
TBH I have relatively low bandwidth most of the time and don't notice download speeds at all as I queue the things I want and return to working on what's in front of me.
That's hundreds of Netflix 4k streams.
I think a lot of modern households might find that constraining, even if a 10Gbps link was massive overkill.
There are two orders of magnitude in between of course :)
Personally I found that going back from a 1Gbps link to ~100Mbps has felt a little sluggish, particularly when downloading games. It's not a huge thing, but being able to get that new game pretty much now was great.
Edit to clarify: I cannot fathom live collaboration over the internet when even 15 ms lag is annoyingly noticeable (10 ms latency with a midi keyboard seems like the cutoff for me personally at least).