I have had Insteon switches installed in my house, my parents’ house and my vacation house for over 10 years. Direct control (hitting a button or switch directly) has zero latency even if controlling a remotely linked switch (all my switches a directly linked for 3-way/multi-way control) and 99% command reliablity. More over, given that I can now control lights from more locations than I could before, I would argue that the latency has decreased over the traditional switches (as I do not need to walk a distance to control some lights).
In addition, automatic control using Home Assistant (having switched from Indigo) makes the effective latency even lower, as many tasks are now executed with no intervention from me.