The physics of it mean you basically have to be constantly launching new satellites to replace the 5 year old ones de orbiting. Further, it will also be disadvantaged to anything closer with ability to choose a cable medium. All this adds up to the most expensive infrastructure that exclusively targets very low population density areas and/or areas too poor to afford good Internet. The people that could afford to sustain this can afford to move somewhere with a bit more infrastructure or at least within reach of a terrestrial tower and have an even better result.