What does that mean in practice?
On my current iPhone 13 Pro I can get about 100 Mbps in San Francisco.
I have seen 2+ Gbps over mmWave.
"Regular" 5G can do hundreds of Mbps, maybe even 1 Gbps under ideal conditions.
At least in my daily use, it means nothing. I've also never seen speeds like that when I've tested the phone.