>>13032322Imagine actually trusting this revenue projection. Rocket Lab's vertical integration only benefits their customer if the end result is cheaper than all the other companies that offer the same service and just book a spot with SpaceX on their behalf. They may never be profitable with the Electron, there are a bunch of other small sat launchers coming online which will force them to lower their price, they've already lost a bunch of business to Falcon 9 rideshare, and over the next few years tugs will begin to eat into the rest of their business which is sending small sats to rare orbits.
The Neutron is a meme, it will end up being delayed years unless they can find an engine to use instead of building their own, and replacing the Antares for a few Cygnus ISS resupply missions before its end of life isn't a serious business model. If Rocket Lab ever wants to justify their stupidly high valuation they need to create a Starlink like constellation but do something other than internet, then beat out any competitor with cheaper launch costs from using SpaceX. If they decide to give up on the launch business all together their stock would crash and they wouldn't have enough money to sustain their business, this makes them more disadvantaged than their potential competitors and their hands are tied.
