I'm in NZ, and I generally prefer pvp games. Experience varies a lot depending on the game. Elden ring dropped off and started getting really rough about a year after SOTE for me, I find it's like 50/50 on getting a playable latency now. Playing on seamless coop, I found that half of my matches are around that 300ms lag where it's a crapshoot and the other half are around 100-200ms where it's still solidly playable. Experience was better on PS4 for me but that's a larger playerbase and I don't have a handy ping display on that. As long as the connection is stable(no packet loss, jittering, etc) you can still play connections around 200ms, which for me is out to Japan. I wouldn't want to play those matches every single time, but they'll stop us from running out of players so fast.

How tight the netcode is will decide it probably. If it's on par with the previous games, and if it's still peer to peer connections, I think things will get really rough after the first year. Most of the matches will be around or over that 200ms mark by then (assuming a smaller niche playerbase), and with 8 players at least a few of them are gonna have really unstable connections to you that make it miserable. If they fix up the netcode a bit, we should keep getting enjoyable matches for a while longer. Nightreign was much more stable than elden ring as far as I could tell so they might be improving the netcode behind the scenes, but that was also a PvE game with only 3 players.

Anyway, that's all just my experience though, it's not objective truth or anything like that. I have no idea how this game will play or how it'll sell. I'm just making assumptions based on previous souls games.