>The current SpaceX is in a far better financial and operational position than 10 years ago. By an order of magnitude. 90% of all payload to orbit right now is SpaceX alone. Starlink is profitable all on it's own. Right now.

I don't think anyone is really arguing these particular points.

>And they are just now picking up steam. American Airlines just signed onto Starlink just last week. This company is most likely gonna be the Coca-Cola of transportation between celestial bodies in solar system for the next 500 years but people on here are arguing over peanuts. On HN of all places.

This is speculation based on SpaceX's trajectory to this point, however we've seen Musk make some decisions that bring the long term future prospects of SpaceX into question. While Musk remains unbeholden to anyone else, which an IPO doesn't change, he's the biggest risk factor in the equation - and that's not speculation, it's an objective assessment of what's possible within the corporate structure of SpaceX.

What's subjective is whether you anticipate Musk will add more trash to the pile. Was the Twitter/xAI acquisition by SpaceX, with it's stupidly obvious fraudulent valuations, an outlier of some kind? Or was it a predictor of future actions that put similar economic strain on SpaceX, and would affect it's future stability and economic viability? Since Musk is capable of crashing and burning the whole of SpaceX by himself, without anyone legally capable of vetoing his decisions, it's a valid line of questioning.

Personally I feel I've seen enough of how Musk operates that I can be confident he'll make similar decisions in the future, and that makes me consider SpaceX a high risk investment. I'm also far from alone in this assessment, and there's a valid concern from investors of those index funds about being railroaded into adding SpaceX to their mix.