It’s improved, but not enough to make it useful as more than an aide for people who can’t type.
I don't think this is true.
There's a locally hostable model called whisper that is very impressive.
My plumber uses speech to text to send text messages all day.
Late Night Linux guy says he uses it for microsoft teams quite a bit.
You're only partially correct about input speed. If you want to dictate an email then yes you need to think about each word you want to say and the order in which to say them. Coupled with an LLM that problem is diminished because you can just kind of have a conversation with the LLM and tell it to draft an email.