I mean, it may be true in practice that most S3 workloads are throughput oriented and unconcerned with latency.

But if you look at https://aws.amazon.com/s3/ it says things like:

"Object storage built to retrieve any amount of data from anywhere"

"any amount of data for virtually any use case"

"S3 delivers the resiliency, flexibility, latency, and throughput, to ensure storage never limits performance"

So if S3 is not intended for low-latency applications, the marketing team haven't gotten the message :)