The issue is that there is ultimately a limited market for having access to space. SpaceX's business model is premised that if you make access cheap enough that there will be a market for multiple launches a day. But to me demand seems very finite? You can make it 10x cheaper or 50x and it sort of doesn't matter.

There just isn't much to do in space. You have:

- Telecommunications.. Can scale only so much. Starlink is cool. Compared to Iridium it's way way cheaper. But demand is .. modest? It seems to only beats fiber on the ground in special situations

- Telescopes looking up. This is limited by science budgets that aren't going to change much.

- Telescopes looking down. Those people have infinite budgets and already have all the satellites they'd want. If you're not in NATO then can't depend on SpaceX anyway - so they're not capturing that market.

- Tourism. Vomiting for several hours in zero-G will be a thrill for some for a bit, but I don't see this being a huge industry. Maybe on par with basejumping or something.

- Mining.. seems impractical scifi.. premised on wanting to build huge structures in space - but again, for what goal ultimately?

It's sort of like if you made access to Antarctica 100x cheaper. It'd be great, but it's hard to imagine it's going to suddenly open up a ton of demand.

But I'd love to hear counter arguments :)