alt Hacker NewsIt matters for anything multiplayer shooter and even single player games with quicktime events. Using WiFi, wireless controllers, TVs with frame pacing and bluetooth headsets adds latency already in your own house of around 10-50ms (although it is a combined latency, not network).
I know and I can't use cloud gaming myself in part because of the games I play and because I'm used to 240fps PC latency so no game can feel good, I can barely stand using steam link for couch gaming. But there are loads of people that wouldn't notice the difference if they're used to 30fps consoles and loads of games where the latency doesn't matter.