Earlier quoted context omitted.
I don't think that's the case, if launch costs are low enough. The options you describe there are quite expensive. Reprocessing costs somewhere in the neighborhood of $1000/kg. Even fast reactor have trouble disposing of the seven very long lived fission products. A fully reusable launcher might get costs down to $10/kg to LEO. Even if one had to wrap the waste in 10x its mass in launch armor this could be much cheap…
Why would launch costs be low? $10/kg is fantasy land. UPS won’t ship a kilogram across the country for $10. And who wants spent nuclear fuel in low earth orbit? This is a far worse location for spent fuel than buried in a bunker. This is a worse location than Times Square.
Low earth orbit would just be where it's transferred to something to carry it farther out, for example using solar-electric engines.
For all this, remember it isn't done immediately, it's done in (say) 300 years when the short lived fission products are mostly gone.