Sure, Australia is super huge and <10ms is a different thing. I live in germany and there are ISPs where you can get <10ms in the whole country. Sadly when i moved to Berlin the ISP situation got worse than in my previous much smaller city and i am "stuck" with 30-40ms latency. I somehow care a lot about latency, but i can live with it ;)
I have seen some people with Fiber connections basically get <5ms everywhere in the country, so the tech is there, we just have to get the mainstream interested. At the current rate ISPs will squeeze the last drops of bandwidth out of copper and cable connections until finally moving to fiber, but it's understandable as the mainstream demand isn't there and getting Fiber into all homes is a massive undertaking.