Well, looks to me like we are kinda mixing terms.
A bandwidth is a maximum amount your link can offer (local network or from the internet) e.g 1 GBE or ~120 Megabytes per second.
100 GB is total size of desired file you wish to transfer over that link.
100 GBE is ~12 Gigabytes per second - which is a monster value, even if your links support this, your disks might have an issue writing this fast, effectively making network wait for disks and utilizing much less then pipe offers.
IF your local link has 100 GBE avail BW, it is high probability that it is some kind of network load balancing over multiple ports say 4 x 25 GBE in LACP or likes.
One invocation in this (lab, synthetics) scenario with performance software would be able to saturate one port at most with one process. One wget only - unlikely.
Multi-process saturation would depend of algo employed on client side bond interface and algo used.
From simple round robin to more advanced methods your OS and/or switches support such as TLB, ALB, LACP or likes.
The point of caching/proxy software such as Squid or Varnish is to minimize internet network traffic and bandwidth for URL/files..that are accessed constantly by clients from local network going to internet URL to fetch those.
A simple example would be a squid/varnish which is configured to cache request going to S3 bucket on cloud provider hosting a 100 GB file.
Client would issue a request to GET that file using HTTP_PROXY directive, and cache server would download that file in cache initially (which can be disk, memory or both)
Next client (or any subsequent one) would issue GET against same file, but would now be served by cache server, effectively not using internet link at all, but only local network - which is much faster.
In turn, you have just saved your company money as cloud provider S3 charges downloads and internet link can / is utilized for other stuff.
Of course, there are many applications of caching software, even in LAN environments, as it can be utilized to reduce load on various HTTP based apps by caching stuff in memory when put in front of those.
Varnish can increase performance of such apps many times without developer intervention.
Additional perk would also be security which you can enforce on such systems in terms of WAF or MITM TLS inspection.
Hope that helps
Regards
Peasant.