First, it's not "GPS" that you're having Chrony (or NTPd) syncing to. It's 1 Pulse-Per-Second (PPS), which is why my screenshot says PPS is my reference clock.
GPS delivers "NMEA stanzas" over a serial connection. Which means we're talking over (usually slow) serial baud rates, over which you receive "the time is now X", along with many other messages and have to guess at how long ago that timestamp was generated, since it takes many milliseconds to receive.
2/x
