Lots of things contribute to speed or perceived speed.
For example, what protocol is used, TCP vs UDP, tcp requires handshakes to ensure smooth packet delivery while UDP is more flexible towards lost packets. Thus it takes the same data on average longer to go through TCP than UDP.
Also depends on content, a 4K video is going take more bandwidth than a photo on Instagram because more data is being transmitted. This compounded with multiple people on the network decreases the availed bandwidth required to send information to and from other servers.
Moreover different games/apps etc all use varying algorithms which may speed up or slow down your perceived experience on that app or streaming platform.
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