They deliver better latency than current sat-based internet. They also want to use fixed phase array antennas instead of large dishes or tracking dishes. This is a new kind of service that has not existed before.
Now a cheap DSL modem is $10, and it's all a single SoC.
Phased array satellite modems will follow the same price curve.
I don't think it will happen in the next 3 years though. I think that most of the manufacturers are focusing on the high-end market, and first terminals will be in the thousands of dolars.