I mean... in what world is it worth less?

Meta has increasingly ephemeral digital mindshare and no AI play. SpaceX has a near monopoly on access to the rest of the galaxy.

The question for me is just timeline. The "rest of the galaxy" revenue is decades out, while Starlink revenue is now. Most of the 1.75T has to be priced on Starlink working at telecom scale. If not, 1.75T seems like a steal for the first true "Universal" investment...