[Disclaimer: Not a hater, just a Nerd looking at data.]
And just as Tesla's stock goes up whenever there are reports about them no longer selling cars, or being years behind on self-driving tech and robotics... if Starlink would be publicly traded, their stock would now shoot way up.
On a more serious note: If analysts would do their job, they could have found out years ago that Starlink will never ever be profitable, just as no Sat ISP in history ever has been. All always have and are funded with tax-payer money.
Why is that? Simple maths.
Including R&D and launch cost and expected usage time, the TCO of one of their satellites will be somewhere in the area of $2,000,000. One of them in theory has a peak speed of 100 GBit/s. If you overbook the link by a factor of 10 as it is common for an ISP, that gives you 1,000 Gbit/s to sell.
So in best case over the lifetime of the system you will make a revenue of 1,000 * $100 * 36 months. So you end up somewhere in the area of $3,600,000. Yes, that is more than $2,000,000, but well, there are a couple of billions of investments and investor money here to be paid back one day.
"But why are you only assuming a usage time of 3 years?"
While Musk's idea of rapid R&D cycles is fine for Software, it's extremely expensive. The "Oops, the Sat-to-Sat links are not working, so we now have to build base stations everywhere and can not do load distribution" might have cost Starlink something like $10 BILLION? I guess I would have tested my stuff first before launching it. With now two generations of Starlink sats already being outdated and/or falling from the sky, the "in two weeks" promises from Musk don't make me very confident that Starlink v3 will actually be properly tested prior to polluting space with their buggy trash again.
But let's restart it in a much simpler way: A currently used commercial fiber cable can do 800 GBit/s, so eight times of a Starlink Satellite. Real-life data has already proven that the lifespan (outdated transceivers etc) is somewhere around 5-8 years, with the biggest risk being your cable getting cut. The cable itself costs virtually nothing. Due to this "developing" countries have mostly decided to not lay fiber underground. In Thailand for example, the fiber cables are simply thrown onto houses and through the jungle, as replacing them is dirt cheap. Anyway: If you map this to the TCO on 3 years as mapped above, this means compared to the TCO of $2,000,000 for Starlink, for fiber you are looking at something in the area of $10,000 instead. It's a no-brainer.
Real-life proof: I live on a tiny and very very remote Island in Asia. Some people used to have Starlink here. But due to their Satellites now being massively overbooked, speeds went down months to months. So people noticed that it is actually cheaper to run 10 KILOMETERS / 6 Miles of Fiber cable through the jungle. And on this tiny remote Island there are three Fiber ISPs to choose from. Two of them offer 1 GBit/s for $13 per month, and if you want a business service, for $40 you can get 2 GBit/s down / 1 GBit/s up. And unlike Starlink those ISPs are profitable.
You have to be EXTREMELY remote for Sat internet to make sense. No, not rural USA. Fiber will be cheaper. No, not Africa. Fiber through the desert will be cheaper. Sat Internet may make sense if you live in the artic or on mount Everest or something like that. Or Mars. In all other cases the TCO of Fiber will win.