That all depends on the ISP and things like latency and dropped packets and bad routing or lag. I thought it was mostly a nonissue but then I've been reading through DSLReport forums.
The latency of the game loop: A.) Accept input, B.) update game world, C.) render and D.) output/display, will be impacted by the following:
1. Accept input, add network latency from your controller to the server over the internet
2. Encode the frame when rendered takes time, adds latency
3. Transmit encoded frame to client, add network latency (and transmit time of non-trivial amount of frame bits)
4. Decoding the frame takes time and adds latency
The latency of no 1. and 3. in the above is directly impacted by network latency, no. 3 is also impacted by the bandwidth of your internet connection.
If you're on cable or fibre, you can probably get the aggregate latency of 1. and 3. down to 25-40 ms. DSL will be 40-55ms. If you're on a 4G internet connection, you will probably see 80+ms of latency. The latency of encoding depends on how much hardware is thrown at it and how it is pipelined/diced in parallel jobs. A lower bound is probably around 16ms (for 60Hz throughput). Decoding a frame should be fast with 16ms being an upper bound.
That amounts to an additional best case game loop latency of to 55-100ms. Worst case is..... worse.
Cheers