It remains to be seen whether they can really raise the money to do this.

I am a bit skeptical that a double-6U-cubesat will have enough power and RF link budget possible to compete with starlink. I'm saying this as a starlink beta customer for a year now.

If their intended target market is more like a lower-bandwidth competitor to Iridium and Inmarsat's L-band based services for mobile terminals/offshore/industrial/aviation and similar markets, maybe it can find a market niche, but it will have to be a whole lot less costly in dollar per MB.