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Internet speed is really something that is largely misunderstood. When we hear about things like 1Gbps up and down what is really being conveyed is the amount of data being able to be carried over a period of one second. It's really bandwidth and not speed. Speed is measured by packet latency often determined by ping times. Obviously lower ping times meaning the data is able to travel at faster speeds. One thing you can do to determine ultimate efficiency is measure both bandwidth and latency together.
It's the first time I'm reading about someone misunderstanding this concept.
A higher "speed" means faster downloads/uploads, it's pretty straightforward. If you want to get technical, there's no such thing as "network speed"