It many take a few more years, and the speeds may increase gradually rather then all at once, but I do belive this is the first step in faster internet access for the general population. This technology is sure to be expanded and people will see an increase in their speeds.
Yes, we will get even faster internet. I believe that as we look more and more to space technology, every other aspect of our lives will be improved including the internet. I have no doubt that new space race will rub off on the internet. Who knows what new and exciting discoveries will improve our lives?
Technology is always changing and evolving, but the SpaceX plan is pretty ambitious and i"m not sure how achievable it really is. If it works, that would be great, but I'm sure the larger internet providers will do all they can to stop it, so they don't have to compete with something everyone really wants at a lower cost.
Elon Musk is hoping to bring super-fast internet to billions of people around the world by launching over 4,000 satellites into space. The concept of satellite internet has been around for many years. There are still issues with extreme latency between when signals are sent to satellites and when the satellites respond that have not been resolved.