It just means it’s protected by no power instead of a power with an agenda.
Practically, if it was ever possible to build such a thing, it would take a fraction of the effort to destroy it.
Low earth orbit, though... Solar power works well, radio works well, and the international jurisdiction is confused enough to exploit if you have money.
Sending is a bit more problematic but you can build a ground station anywhere in the satellites coverage area, so if you get shut down in one place you can move to the next where officials are easier to bribe.
The real problems are transfer speed, reliability (both transfer and compute) and cooling. All of them are much harder than avoiding governments.
The technology to do it is not actually real yet. He was just blowing smoke.
Still does. It's an idiotic idea that only goes to show either how stupid Musk is or how stupid he thinks we are.