> Why is Space-X undervalued because they can catch a rocketship?

The market values SpaceX over multiple areas of the business and their future plans and it isn't just this event which they have proven to accomplish.

> You do understand that a company needs to have a business case equivilient to its valuation right?

Nope. That is not how this works nor how investors see it. It is about their total addressable market (TAM) which SpaceX can capture over everyone else. So here are some more further questions:

1) Who is paying SpaceX for the compute that they have?

2) How quick is SpaceX building their data centers to support their customers?

3) How many people use Starlink as their primary internet provider?

You understand that almost all of where SpaceX businesses can expand into those areas and grow into that valuation and higher?

> Our whole planet sends 1000-2000t of payload into space, most of it is now starlink.

Your point is?

So who else can catch and reuse a rocketship to frequently deploy satellites into space in a very short period of time? (Don't say Blue Origin.)