This pretty much nails it, if possibly unintended:
If you're a pro and used to it you can learn to play with high latency, just as you can learn to ride a unicycle, hold your breath for minutes, swallow sharp metal objects etc.
For the non-pros among us, avoid latency. Don't fall into the "if I can't perceive it, it's not there" trap. For a graphic illustration why this mindset is flawed, think of lead poisoning, it's not perceptible until you're, like, 75 % dead :-)