>There is a lot of hand waiving away of the orders of magnitude more manufacturing, more launches, and more satellites that have to navigate around each other.

This is exactly like the Boring Company plans to "speed up" boring. Lots of hand waving away decades of commercial boring, sure that their "great minds" can do 10x or 100x better than modern commercial applications. Elon probably said "they could just run the machines faster! I'm brilliant".