Too little too late, but one can still appreciate the initiative.
Guy in charge of NATO (who is dutch I think) recently said EU would need to move to spending 10% GDP to plausibly not need the us military.
So this is great and all but it's too little too late.
I honestly wonder whether the EU can afford to spend on technological sovereignty. With an aging population and the need to maintain welfare states, governments will have to allocate more and more of future budgets to expanding and sustaining welfare programs (statutory health insurance, pensions, unemployment benefits, etc.). That ultimately means higher taxes, a larger government workforce, and a shrinking private sector. Maybe they will have enough money to maintain the existing status quo, but not sure where the additional capital would come from to invest in digital sovereignty.
From the headline I expected some kinds of new communication satellites. But instead this is "just" a marketplace where government entities can purchase services. The satellites were already in orbit and already "EU sovereign", this is about making it easier to use them and centralizing capacity planning
In a way this is the dry run for when IRIS² starts service in another four years or so, the European Starshield equivalent