So they are also betting on either anti-monopoly legislation being set-up (SpaceX is a monopoly because no other launcher can match their pricing), or that a SpaceX competitor emerges (which could easily be a decade out).
If e.g. Boeing wants in on the action, they need to start moving. The main problem with that has more to do with Boeing's inertia than with SpaceX trying to stop them from doing anything. SpaceX has actually been pretty vocal and open about their plans. And by Boeing/NASA standards they are not even spending that much on this. The only thing stopping Boeing from competing here is Boeing being Boeing. Other companies are less encumbered by their own ineptness and will no doubt start figuring things out for themselves.
Move fast and break things shouldn't have been acceptable for an organization operating in this area, and that Swarm had no meaningful repercussions for doing so should be a black mark on the org and the executive running it for a long time. I'm certainly hoping others don't use their model as a blueprint.
[1] https://spacenews.com/fcc-fines-swarm-900000-for-unauthorize...