Because they thought they could. Turns out the Chinese and Elon had other plans.
The Chinese providers are just as much getting subsidies from the CCP, and Musk/SpaceX is (indirectly) raiding retirement funds to fund the bonanza.
alt Hacker News
The Chinese providers are just as much getting subsidies from the CCP, and Musk/SpaceX is (indirectly) raiding retirement funds to fund the bonanza.