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It's doubtful that your modem hardware is the cause for the poor gaming.
It's possible you may be experiencing a limited NAT type which could impact your gaming experience.
If you're connecting to your internet through a wifi connection you should change it to a wired connection if possible
If you haven't already, I'd put your console in a DMZ. This will open up all ports to your console and remove the majority of impediments you could be experiencing with your connection.
Dropping a couple hundred bucks on a high performing modem is unlikely to drastically improve your gaming.
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