Yes, the famously operational JWST. The telescope that should be used as a benchmark for how to implement an orbital system on time, under budget, and if I may be so bold:
easily. /s
1) You're talking about replacing existing capabilities.
2) It's easy to spend someone else's money.
Those terrestrial telescopes are paid for, built, and running. Finding funding for them was really hard the first time around, and do you think constellation operators will spring for the replacement costs?
I'm not saying it's technically impossible to replace all of our terrestrial telescopes because some people want to make a lot of money from the commons of our night sky, but $1.5 billion is just for the launches. It doesn't include design, fabrication, assembly, testing, or contingencies.