You can't have a geostationary satellite in "much lower orbit." The orbital period of a satellite is set by its altitude. A lower orbit means a shorter period.

You can't have a geostationary satellite in "much lower orbit." The orbital period of a satellite is set by its altitude. A lower orbit means a shorter period. Since a geostationary satellite is one with an orbit above the equator and a period of 1 day, so its orbit matches the earth, and the period is set by the altitude, a geostationary satellite can only exist in one orbit. That's why the geostationary band is getting a bit crowded.