5G can sustain those high data rates to lots of users simultaneously.
Uh, yeah. Except that comparing 5G to older tech using the same usage profiles is not relevant. It's highly likely that 5G will make data consumption "explode" compared to 4G and older - thus the overall user experience, when "lots of users" are using it, is probably going to be pretty similar.
It's like the computer hardware vs. software thing. The more powerful hardware is, the more bloated software becomes.
So what we can reasonably say is that 5G will make wireless data consumption increase a lot. Will it make it better from the average user's experience POV? Probably only at the very beginning.
I disagree. 3G networks not only collapsed under heavy loads (i.e. large numbers of people), but it was easy to saturate a 3G link yourself — its bandwidth and latency presented a very real limitation to browsing speed (it wasn’t bad by any means, but it was noticeable compared to, say, cable). LTE has proven to be a great performer with resources to spare. I don’t think web resources have actually changed THAT much during the LTE era, as in, I think web pages became pigs during the late 3G era and haven’t changed that much since.
Bear in mind that, data caps notwithstanding, LTE is often good enough to be a viable alternative to terrestrial broadband internet. That certainly wasn’t the case with 3G. (Sure, 3G mobile hotspots existed, but using them was always a noticeable downgrade vs. terrestrial.)
In other words, my feeling is that with 3G, the network was still a bottleneck, so content had to be scaled down for it. (And thus with LTE content could be delivered uncompromised.) LTE hasn’t been a bottleneck, and thus content hasn’t been scaled down for it to begin with, and thus I don’t see it bloating up for 5G.