Unfortunately, proximity can be important.
I grew up in Australia, and more recently moved to India. Both are well away from the USA, where we who visit find the internet to be bafflingly fast just because of low latency (since most developers aren’t at all careful about avoiding request waterfalls, so even ignoring restricted bandwidth, 200ms of added latency makes the page load take several seconds longer).
Australia wasn’t great for playing high-bitrate videos hosted in the USA. With a high-quality 4G broadband link (rural western Victoria, clear line of sight to the tower 400m away that might host under 300 subscribers; at least 55/25Mbps via cheap phones when I measured it eight years ago), somehow you couldn’t actually download them at more than a few megabits per second at best. I think this is mostly latency effects, even though TCP is supposed to speed up.
India is terrible for playing high-bitrate videos hosted in the USA. A 100Mbps fibre connection can be completely undermined by what I imagine to be terrible peering arrangements on all broadband ISPs I’ve interacted with (Hireach, Airtel, Vybe), and files hosted in the US may trickle across at half a megabit per second or even less. Right now I can copy a file from my VPS in Australia at 1.6Mbps.
And so CDNs are, very sadly, rather valuable.