Why do you believe this is true? It's entirely possible that there's a massive amount of unmet demand that's only economically feasible at lower price points that SpaceX is beginning to unlock with reusability and economies of scale.
Even SpaceX themselves is a huge customer with Starlink. An extremely low cost of launch not only means that you can put drastically more satellites up, but you can put them in lower orbit where they will have a shorter lifespan, because they decay orbit and burn up exponentially faster, mitigating the risk of Kessler Syndrome. You can also iterate the satellites much faster as technology advances and waste less time making sure that the satellite is 'perfect' because you only have one shot at launching a JWST after 20 years of work.
On that note, why is one Hubble or JWST enough? We probably need hundreds if not thousands of them if we want a sufficient observation coverage to be fully away of all extraterrestrial (asteroids and commets) threats that might be coming our way.