Their financials have nothing to do with private launches. They are doing them at a loss funded by government contracts. The satellite internet project is a pig

Their financials have nothing to do with private launches. They are doing them at a loss funded by government contracts. The satellite internet project is a piggyback on government contracts. Starlink is only viable if SpaceX exists, and SpaceX can only exist as long as the NASA billions are flowing in. They don't have the money to invent the SpaceX to make the Starlink, and Starlink won't be so profitable as to be able to shoulder the cost of inventing private space flight, so they need the government funding to create the private space flight foundation that could make Starlink some day profitable without having to fund that foundation. I'm not against the government creating new markets like this, NASA has been doing it for a long time.