Why is Playstation Now giving input lag?

According to the built in speed estimator, my speed is running at a solid 127 Mbps. This is hooked up to 5ghz band wifi. Why am i getting so much input lag? Fps games are UNPLAYABLE. Framerate as smooth is butter. I'm actually paying for 200mbps but yeah its wifi so its going to be cut down a little but there should be no excuse as to why games are literally unplayable. Why is this?