It's a lot further from Earth than our man made satellites. It would take over two seconds for a signal from Earth to bounce off the Moon and back to us. It would take a lot more fuel and technical effort to place communications equipment on the moon than to just put it in orbit closer to earth. It would also require more electrical power and larger antennas to send and receive the signals. Satellites in geosynchronous orbit (much closer than the Moon) can remain almost stationary over a spot on Earth's equator, allowing us to point satellite dishes at a fixed point in the sky. Low earth orbit satellites move fast but are very close to the Earth, and provide nearly instant, low power communication (many are used together so that you don't have to keep moving your antenna).
Geo-synchronous orbit - roughly 18-22,000 km , the satellite will go around the Earth in 24 hours passing over the same specific points Geo-Stationary - roughly 36,000 km in relation to the Equator. The satellite (i.e. TV, weather satellite) will stay in a fixed location in orbit, in relation to a specific area on the Earth. (GPS satellites with atomic clock that with ground stations provide updates to the lower Geo-synchronous GPS satellite constellation) Every night you could look up & see that the satellite stays in the same spot in the night sky The Moon would not be practical to be used as say a communication or TV satellite due to the Moon's distance from the Earth, & its orbit. Which limits its practical applications, as compared to the benefits of placing satellites in Geo-Stationary &/or Geo-Synchronous orbits. The Moon does have a receiver/ transmitter setup, which transmit signals (info) back to the Earth which was setup during the Apollo Missions ( Note: yes we did go to the Moon :) that provide tectonic, atmospheric, temp, gravity etc. information. The Moon also has a "Reflective Mirror" (setup by Apollo 11) which when a laser is beamed to & back, measures the changing (increasing) distance of the Moon from the Earth.