I agree with you, but it's also worth noting that Boeing is one of the "too big to fail" industries tightly coupled to the government. It's too valuable to the

I agree with you, but it's also worth noting that Boeing is one of the "too big to fail" industries tightly coupled to the government. It's too valuable to the DoD to let fail. There are several industries (microchips have recently become one) where finance has figured out the normal rules around competition don't matter. Boeing can capture the upside and there is virtually zero risk of bankruptcy or being nationalized from mistakes.