Lower latency means that the sending of information to the server and then receiving new information back is faster. Latency is the time it takes for the information to reach its destination, which in the case of gaming online, is the server out on the internet that the game is hosted on. The main problem with this, however, is that the latency is considerably longer when you compare it with using ethernet instead. Most people will resort to using Wi-Fi on their PC or console as it is simply the most convenient method of connecting to the router, and from there, the internet. That being said, there are still several benefits that come with using ethernet that can improve your network connection in-game and make for a much more enjoyable experience overall.