In this case its mostly the altitude. Old satellite internet talked to geostationary sats in orbit (out in space around 32000km), these are only around 500km, so the signal itself only has 1.5% the distance to travel.
Just speed of light alone means your old signal took around 100ms to get to the sat, and 100ms back, new one is 1.5ms there and 1.5ms back.