[Cthulhu_]

There's a few factors to keep in mind. HN is much smaller, uses less resources, less individual files; less roundtrips (of the hypothetical 104 ms) to get all the resources.

HTTP / TCP overhead and throttling is another factor; there's a few bounces back and forth before a request can be fulfilled.

However, the factor here is that with http/2 and other advancements, the number of roundtrips and the number of requests needed to get resources is reduced by a lot. HTTP 1 needed one request per resource, HTTP 2 and 3 can bundle them into the same connection. I'm not explaining it very well, there's good resources out there.

anyway, HN is an example of old internet style websites, where latency is compensated for by the webpages just being small and snappy. A lot of advances in things like latency and speed have been undone by heavier websites.