If one has a house in Europe totally wired with cameras and screens, and another one in North America, with a 24 hour per day video and audio uplink, it would be like having that person in the house, even though he is a continent away.
There are other uses. One has the bandwidth to work at home and do things like trade stock or other occupations where one's presence is normally required.
The owners of these fancy birds in the sky will teach their children this new nursery rhyme:
Star light, star bright
First star I see tonight
I wish I may, I wish I might.
I want to see my satellite.