@Bltizo @9dashline
Here is why Starship is useless/irrelevant:
Was that because there's no previously existing demand that can now be created by additional heavy lift vehicles? No. Notice how the
and even Falcon Heavy has never flown at claimed maximum payload.
2021 was not much better; out of 28 total launches of the Falcon 9, 17 were internal launches for Starlink.
That means that outside of Starlink, supply exceed demand for launch services and increases in demand will be related to Starlink.
Even if SpaceX completely monopolizes the US market at the 1990-2010 average (~30 launches) and then expands it 2x due to induced demand, that's just 60 launches per year. At the quoted price for Falcon 9 expendable for $60M per launch, that's just $3.6 billion. That is essentially their revenue cap under best circumstances.
What are their profit margins? I don't know because they're a privately held company but even a 50% margin better than Apple gives them a profit cap of $1.8 billion. But there's not much room for such a ridiculous margin, since Apple is able to command such a margin because 1. much of their value added is in software with zero marginal cost and 2. they sell to consumers who are easy to con into paying more than the strict price of hardware + assembly + shipping.
SpaceX value added meanwhile is 100% hardware - which has a high marginal cost in aerospace - and sell to sophisticated, cost conscious customers. They have no room to improve profit margin by raising costs and must decrease costs, but costs can only go down so much. With capped revenue and capped profit margin, they only have so much to spare into R&D while maintaining operations. But what is their R&D going into? A launch service with no demand.
That is why Elon Musk says that success of Starlink and Starship is linked - there's no demand for it outside Starlink, but there's no demand for Starlink without Starship due to high maintenance costs. That's why he sent an angry email fuming about possible bankruptcy.