There is a reason for this as there are a lot of customers in on place. Satellite based internet allows you to have your infrastructure where you need it, even this requires a close control of your orbits. And then question is whether satellite internet will be a) faster b) be more reliable and c) cheaper than ground based fibre and 5G. If yes it might give these two alternatives a hard time even in metropolitan areas. If not satellite based internet will only be interesting for rural areas. Not sure if the potential higher prices off-set the smaller customer base. And in developing countries higher prices are basically off the table anyway.

Satellites still are in space, so everything is more expensive up there, getting things up, repairing things, building things for space, operating things in space...