Yes, being able to manufacturer and deploy your satellite services at cost is an insurmountable competitive advantage. There is one other player in this space, Rocket Lab. They are 5-10 years behind SpaceX, but are the #2 launched rocket in the USA and 2/3rds of their revenue is from satellite manufacturing. I think something like 25-50% of the non-SpaceX satellites in-operation have a Rocket Lab logo somewhere on the craft. The next step in their vertical integration plan is to launch their own constellation and provide some sort of space-based service. Although it's several years away and pending the scale-up of their medium launch vehicle test flying next year.

Their CEO has come to the same conclusion as you. The major space companies of the future have to be vertically integrated if they want to compete. The founder has a pretty cool story. From New Zealand. Built a rocket bike and a rocket pack, but didn't go to college. Being a foreign national without traditional education meant he couldn't work in the space sector due ITAR. So he started Rocket Lab in 2006.

Their small lift vehicle (300kg) was the fastest vehicle from first orbit to 50 orbital launches, and tracking to be the fastest to hit 100 orbital launches. Their medium lift vehicle (13,000kg), if it makes orbit next year, will become the most capital efficient ($300m spent) MLV developed, and the fastest MLV to go from announcement to orbit (5ish years).

After Rocket Lab and SpaceX, the competition is pretty thin. Blue Origin is launching their HLV (40,000kg) New Glenn for the first time in early 2025 and there are a couple of startup and traditional defense contractor projects, but all unproven.

SpaceX is so insanely far ahead of everyone else. They will hit 100+ launches in 2024, Rocket Lab is at 15ish with their 300kg vehicle, and planning to scale their 13,000kg vehicle to 3 launches in 2026, 5 in 2027 and 7 in 2028. New Glenn will be on a similar ramp.