Satellite internet: a radio based internet connection (like cellular or wifi) but now instead of having the antenna/base station sitting on something it's hurtling around the earth at an unimaginable speed and a rather large distance from everything connected to it.
This might disrupt cellular and satellite ISPs and it will affect wired ISPs in the same sense that cellular affects them now which is all pretty exciting, but I don't think it will do anything beyond that.
TL;DR: insanely great for sensor networks, exciting for mobile internet (especially at sea), not quite irrelevant for home internet unless you live in the middle of nowhere like my parents.
Even for your parents you need to consider the cost. There are a number of satellite internet companies already providing service, but none of it is affordable to your typical rural customer. Often billing is still measured in megabytes, and denominated in full dollar amounts. Think $5/MB, if you buy a lot of data up front to keep the costs down.
Even a highly disruptive network that drops the cost by two orders of magnitude will still be expensive.
This might disrupt cellular and satellite ISPs and it will affect wired ISPs in the same sense that cellular affects them now which is all pretty exciting, but I don't think it will do anything beyond that.
TL;DR: insanely great for sensor networks, exciting for mobile internet (especially at sea), not quite irrelevant for home internet unless you live in the middle of nowhere like my parents.