Not really. For example, satellite internet can be very fast, with very slow ping. It's not about FPS either. It's the time it takes to push a key or click a mouse button, for that to travel to the server. It doesn't take a lot of data for a single keyboard button, but needs to be rapidly transmitted.
Normally there is a short direct connection, or Bluetooth connection direct to the CPU. Rather than signal to the CPU, to the network interface, through your wifi, to the internet (cloud) then to the server. Hopefully through a firewall too.
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