what the ping information actually means?

Hello, friends.

Who can explain to me what the ping information actually means? I play with a ping of 8 and in most matches my players seem to be playing in a swamp. And this clearly does not look like a ping of 8. If I play a game like Marvel Rivals I see - 30 or 70 and I immediately understand - well, it is clear that there are problems, and when I see a ping of 8 - I expect an incredible connection quality. But no - every match is some kind of random for me - it may be playable or not, but the ping will still be the same