Unfortunately this approach doesn't feel that great down here in Australia, definitely a function of latency.

I think you could get a lot closer by framing this as an optimization problem, where you use the full alphabet dictionary, but add a residual prediction which aims to cover as much of the remaining domain name tree as possible weighted by popularity. This tree could then be pre-baked and stored with the same system. This would probably get you p99 0ms even in Australia.