If I understood right, you're downgrading your connection from 500 to 70Mbps, and the question is whether this will be enough for six people?
I'd say it depends on to what degree all six of you will be doing bandwith intensive things at the same time.
For example, Netflix recommends minimum 15Mpbs for a 4k stream, so if all six of you will be doing that on separate screens at the same time, you'll be about 20Mpbs short. But if everyone is on 1080 screens you'll be fine as the requirement is 5Mpbs per stream.
Remote work doesn't necessarily require a lot of bandwidth, although it depends on what you actually do for work. MS Teams for example only requires about 2Mpbs for group video calls.
Most gaming also doesn't require a lot of bandwidth, but of course downloading games and their updates does.
Will it work? Yes I think so, though you may encounter times when it gets laggy.