I think everything is about response time, even throughput.
If we compare the time to transmit a single packet from A to B, including propagation delay, transmission delay and queuing delay,
to the time to move a much larger amount of data from A to B we use throughput in this second case because it is a normalized
quantity w.r.t. response time (bytes over delivery time). For a single transmission we tend to use latency.
But in the end response time is what matters.
Also, even instantaneous throughput is well defined only for a time scale which has to be much larger than the min RTT (propagation + transmission delays)
Agree also that looking at video, latency and latency budgets are better quantities than throughput. At least more accurate.