Latency is a fundamental physical limitation. We'll never have technology that can fully beat it. But we can design competitions that account for and offset the problem. Eventually, some combination of three things will happen as eSports leagues develop:
1. eSports teams will travel for competitions, just like regular sports teams, so that playing fields are always more even (and sub-millisecond LAN latency to boot).
2. Teams will host their own servers, and every match will have a home team, with the home team having a massive latency advantage that's cancelled out by each team playing an equal number of home and away games. I don't see this sticking because it would confer too much advantage during any post-season play.
3. Teams will host their own servers, and each match will always have two halves, with each team hosting a local server for half of the competition.
I could see some combination of #2 and #3, where regular season events have a designated home team, but post-season play has two halves, or perhaps teams will travel only for post-season or tournament play, with either of option 2 or 3 used during a regular season.