Yes, the latency is high (550ms Roundtrip), so it’s bad for things that require real-time interaction (games, video chat). I’ve done real-time video chat over satcom – it’s doable, just have to allow a slight delay for the response (whatsapp over a 1Mbps x 512k).
Probably even worse for things like webex which have their own delay in addition to the network latency.
But for things like video streaming, minor web browsing, it doesn’t really make much of a difference.