Okay, I get the margins get more cushy. But one could see it being something like space launch getting 10x cheaper and that maybe translates into 3x demand for satellites. The first earth observatory was worth an astronomical amount of money, but the hundredth or thousandth is far down the tail of diminishing returns.
I just really wonder how much money can they make off of all of this even in the best case scenario. There isn't an infinite demand for putting things up into space.
There are demand inflection points. If it's so cheap you can go up for your birthday, or can do transatlantic flights, then it's a bit different - but nobody is talking about it ever getting THAT cheap. If Starlinks starts making all telecom providers obsolete then that'd also present something radically different and a huge amount of revenue. But I don't think they're able to do that either
I feel the primary reason people stopped caring about space after Apollo is because there are simply insufficient economic incentives.
The list of things you can do is short.. Telecom, Telescopes looking down, tourism, space mining
Everything else is on taxpayer dollar