This would be huge for places like where I live. My internet is currently off the geosynchronous satellite network at 22,000 miles away, so ping times are regularly over half a second.
If I were pinging satellites 750 miles away, it would be a massive speed gain. We pay $70/month for high latency, slow internet with a 10GB/month transfer cap. I think everyone around here would gladly pay $100 for Musk's service.
We actually tried to get a T1 line which would have been $340/month for 1.5Mbps, but the phone lines are saturated and they can't offer that. They can't offer DSL because of distances to the CO, but T1 lines don't have that problem, the problem they have is they take a lot of dedicated bandwidth on a very narrow pipe and we already have six neighbors who are running T1 (yes, six out of 150 houses in our neighborhood are paying over $300/month for 1.5Mbps service and more would be paying it if it were available, plus one person with a commercial satellite system that costs over $300/mo).