As a musician I kind of strongly disagree with that. I was never able to adjust to latency above ~8ms. Some people might. I can't. I spent as much effort as necessary to ensure that my setup has low latency.
Of course if you're playing with quantization on, or sequencers, it's not as much of a problem
That always struck me as the solution: pump a click centrally to everyone and then everyone synchronizes to it. You might not be able to monitor but you've "jammed" and actually created music.
That's pretty much what Jamulus does: sound is mixed server-side, so you have a single point of reference (can be click track, can be drummer, can be sequencer...). You can even get a multi-track recording saved on the server so you can then adjust timings and give it a proper mix afterwards.
Of course if you're playing with quantization on, or sequencers, it's not as much of a problem