Not so sure about it. Look at Concorde.
Musk actually said that technology does not move forward if there is nobody (or no company or no government) to push it forward.
Musk actually said that technology does not move forward if there is nobody (or no company or no government) to push it forward.
The absence of a business case is not the same as the absence of technology.
Technology for supersonic aircraft has moved forward since the Concorde. Economically viable applications for that technology for commercial passenger transport have not, however, appeared. (Or, if they have, they haven't been recognized.)
Given their extreme noise, pollution, and ozone layer disruption it's certainly a good thing there aren't hundreds or thousands of Concorde-equivalents plying the skies today.
Technology is both economics and engineering. Just because something can be done, doesn't mean it should be done if no one is willing to cover the costs.