Information does take time to travel. That is why blocks are not set at 1 second, or even lower, at this moment in space-time, but at 3 seconds. When everything goes fiber, that might even go to higher speeds, but for now, 3 seconds is fine.
It works even under high pressure, so I think I do not get your conclusion nor your follow up question.
RE: Bitshares is superior to any other crypto and therefore so is Steem