You can't hide the truth if you say you're following GAAP in your SEC filings, and then publish numbers saying that Starlink is making money. Doing so risks massive fines and even criminal penalties.
There are at least three other companies trying to build Starlink competitors (Amazon Leo, Guowang, & Qianfan). It's difficult for them to compete because unlike SpaceX, they don't have reusable boosters. Amazon is hoping that Blue Origin's New Glenn will be able to reduce their launch costs, but until their launch facility is rebuilt, Amazon has to rely on SpaceX, ULA, and Arianespace to get their satellites into orbit. The Chinese competitors also lack reusable spacecraft (and are also working to on that problem), so their launch costs are significantly higher. In the long term, whoever has the lowest launch costs will have the lowest prices, and SpaceX is betting that by the time others have reusable boosters (similar to Falcon 9), they'll have Starship operational. Time will tell if that works out for them.
When you say things like, "Or are you assuming the government will make SpaceX a monopoly, as it did for Tesla via neverending subsidies?" I'm not sure how to respond. First, SpaceX is practically a monopoly because their launch costs are so much lower than the competition. They were responsible for approximately 80% of all mass put in orbit in 2025 (over 2,400 tons). They needed subsidies and government contracts when the company started, but that is no longer their main source of revenue. Second, I don't see how Tesla is a monopoly (there are many competing car companies), nor how they're significantly subsidized compared to other US car manufacturers. How much in subsidies do you think Tesla has gotten compared to their revenue over the years, and how do you think that compares to say, Ford?