The big killer here, especially on 3G/LTE, is latency not throughput. Here in Vancouver, I can get 40Mbit down on LTE, but my ping is in the 300s.
Here's a pretty good post on how latency dominates page load speed after a certain point: http://www.igvita.com/2012/07/19/latency-the-new-web-perform...
By bundling resources, we reduce the number of requests, and the number of round trips.
Disclaimer: I work at Mobify with Peter who authored the post.