That's not QUITE how debouncing works, depending on the circumstances. Debouncing is more of a "sticky" state change than a delayed state change.
If you're not pressing a key, and haven't been for a few mS, and then press it, the state change is registered instantly. Debounce then keeps you from "unpressing" the key until XYZ mS have passed to filter out stray switch glitches.
As long as you're not trying to press a key on and off faster than the debounce time it's not actually slowing down your response time. That initial press, and letting go of a key you've held more than "X" mS, will always be "instant".
So a debounce doesn't work like a capacitor, smoothing out the signal, it acts more like a triggered latching circuit.