It will likely affect some earthbound astronomy significantly, but much (most?) of the most important work in modern astronomy is satellite based.
I'm on the fence on this whole issue. It's not exactly clear what impact it will have on astronomy. Nor what impact it will have on making the internet pricing and availability. Where I used to live, the only options for internet access were expensive and really bad, the positive impact this might have is potentially quite big.
It's hard with a story like this to suss out what the long term effects will be so it's a big grey area.