And what does 'speed' have to do with 'IoT'?

What more relevant to IoT is online (Internet) data store (silos/clouds) where 'IoT' things can push their collected data to. The data can then be selected/filtered and interpreted into 'information' and/or 'machine' commands. Sensors (for collecting data) is essential part of IoT, data store on the Internet (rather than on device) makes Internet-capable devices/appliances useful for human-purposes. Speed is just a manner in which things work.