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It would work, but it needs a lot of satellites. Objects in low earth orbit (like the space station) cross the sky in just a few minutes. That means that your satellite dish needs to find a new satellite continuously. It also means mean a LOT of satellites in operation at once, and that’s expensive. You would also need a more complicated satellite dish at your house to find multiple satellites simultaneously and point at them. Those are a few reasons why we don’t have really fast satellite Internet – yet.
The most notable company working on a Low Earth Orbit satellite constellation is SpaceX, who have also been doing this lately:
They want to make access to space cheaper by reusing the rocket, which would make it easier to loft satellites into position to beam down cat gifs to rural consumers. Anyone in a rural area should be rooting for more cell towers and SpaceX success, as they seem to be your best hope for high-quality internet within the next 10 years.
PS: Here’s a SpeedTest result for anyone interested: