Just as an example, here's the results of pgbench -S of a single client, with pgbench running on different servers (a single pkey lookup):
pgbench on database server: 36233 QPS
pgbench on a different system (local 10gbit network): 2860 QPS
It's rare to actually have that low latency to the database in the real world IME.
If the same pkey lookup is executed utilizing pipelining, I get ~145k QPS from both locally and remotely.