If you're close enough to the server it's possible for network latency to not add much compared to the combined latency from the tv + console + wireless control

If you're close enough to the server it's possible for network latency to not add much compared to the combined latency from the tv + console + wireless controller. (most modern tvs add at least 20ms, even on "game mode", some add more than 100ms). It's a different story on a pc with a decent gaming monitor though.