You couldn't be more wrong. The PS4 and PS3 before it have games that require bandwidth. A solid, and I mean solid (never dropping below for any reason) 2mb down and 1mb up is enough to run the games. The problem is that most people that run a speedtest and see 1.2mb think they have that all the time when they really don't.
Most of the time, speed isn't even the issue. The issue is packet loss or just plain one guy's connection not talking to another guy's connection due to all the connections that it has to make along the path.
I've been here for a long time and I've noticed over the years that it always seems to be the same individuals that are involved in connection issues. If you are someone that has experienced issues over the years or been someone who has been cited by numerous people as not being able to be seen on track, I would suggest that you start looking into your own connection. If you've ever run in a fixed host room in SNAIL and you were the guy who was dropped from the room, the issue is on your end and you should look at trying to fix it. I know from experience who these individuals are as their name keeps coming up when the discussion switches to connection issues. If i know who you are, you should know who you are as well.