Vastly faster, yes, less than an hour ballistic flight time to the opposite point on Earth (and perhaps somewhat less for closer points, though it could be complicated).
Vastly cheaper... it sounds like not an optimal approach energy-wise, so maybe not so easy.
Need for transoceanic air freight - maybe, after the whole infrastructure is in place. If we'll see that, it might take a while - like, not this decade at least :) - to achieve.
It uses methane and oxygen, could that be easily mass produced from solar or hydro? It may turn out better than burning fossil fuel in a plane. Just a thought, no idea if true or not.
Also, Starship doesn't need pilots, so freight transport could be automated.
On the other hand, I wonder about noise emission. Probably much louder than planes.
Vastly cheaper... it sounds like not an optimal approach energy-wise, so maybe not so easy.
Need for transoceanic air freight - maybe, after the whole infrastructure is in place. If we'll see that, it might take a while - like, not this decade at least :) - to achieve.