It's because a large number of new entrants, all started within a similar time window having seen the same market opportunity, are going to start flying soon. W

It's because a large number of new entrants, all started within a similar time window having seen the same market opportunity, are going to start flying soon. While demand for small launch may be growing, payloads are not multiplying at the same rate as launchers. And this is not a surprise; everyone knows there's no way the market supports 100 small launch companies. They just hope to be one of the several who will survive.