Without dedicated Host Servers, the game will still be the same as it is now, but more frustrating because you'll actually have to shoot people to make progress.
And then it's simply "He/She that lags the most will be the Crucible King/Queen" with their halo era 2008ish Peer to Peer Networking.
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I have a good internet connection so I don’t really have any issues with it bc its connection based matchmaking
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It's not your connection that will be the issue. If someone lags, then they become unkillable or a bullet sponge that dies 10's of seconds after you "should" have killed them. So if they live far far away from you in a country with no running water and use a potato for modem, well you will have the typical crap hole game. If your on a Hosting Server it's a very different story.
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But its connection based, so if I have good connection then it connects me to other players with good connection. Thats how connection based matchmaking works
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That only applies if there is a healthy population. As soon as the number drop or you play at off peak times or your in a country with few local people, well then you get the fecal storm of lag because Bungle will match you against anyone left playing the game. Also, your IP address is exposed making it far easier for hackers to DOS and other IP attacks in Peer to Peer games.