One of my managers from Sun, Don Hoffman, left and went on as an early employee of Teledesic, a LEO satellite broadband company in 1990 :-). But the prohibitive cost to get to space, and the size of their satellites, ultimately doomed them.
Starlink is a good example of an idea that failed but could succeed now because technology has moved far enough forward to actually do what the engineers envisioned in a more cost effective way.
That said, its a risky move for SpaceX which has the potential to be considered as having a launch monopoly given their costs structure, and using that to get into adjacent markets is something that is the kind of thing that antitrust lawyers go after.