Well, on the one hand: that's certainly a good and relevant point highlighting the historically high RISK factor of this sector, that's for sure.

However, on the other hand, there has NEVER been a satellite Internet company that has approached the problem before in such an dramatically paradigm shifting method, in which they even own the cheapest access to orbital space on the planet to help in that effort!

Not to mention how in this attempt, they are also employing unprecedented numbers of mass produced satellites, that nobody even seriously dreamed of deploying in numbers that SpaceX has already reached. Nobody else has ever produced/launched that many satellites, so cheaply as SpaceX has ALREADY achieved right now.

All of which has caused the US military to have taken a very HUGE interest in this orbital infrastructure project, and also many network solution providers are outright reportedly willing to pay a lot more money for Starlink access than standard home Internet users, in order to deploy new kinds of customized network solutions.

So... given these factors...

I would say if you want historical comparison to such paradigm shifting moments like this, involving greatly reduced expenses and greatly accelerated mass production then Starlink is absolutely closer in comparison to what Henry Ford did for motor vehicles, as compared to all the countless innumerable failed car companies of that era (or failed satellite companies of our era).

At least that's my strong personal opinion, for what-ever that is worth!

But ya... in other words, Starlink has something that is just so spectacularly different and cutting edge going for it, that it has a very interesting anmd significantly better chance of succeeding than all the other such companies that have come before.

And long before Starlink is allowed to fail... there's a lot they can do in terms of changing the business model and customer focus to save the constellation, until such time as a new rocket type can be designed by SpaceX.

That said, there's always risk when attempting paradigm shifting projects at this scale.

So again you're point is important to keep in mind, as chances of failure are certainly not zero.