Satellite internet can be very fast now . In most places it’s objectively good and often much better than the alternatives.
The answer to your question is mostly that land based internet is much shorter distances and the equipment is cheap on the ground. They could, if they wanted build out satellite internet that was great. But it’s expensive. You would need huge or multiple satellites in geosynchronous orbit. Or you can do what Starlink does and build an army of satellites orbiting close in.
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