[aleem]

SpaceX is the commercialisation of space exploration and that's just how valuation works in commercial applications. It is, however, remiss to value to science and progress in dollar terms. TCP/IP is far more valuable than all of the Internet companies combined but not in dollar terms.

[dingaling]

Space transport has always been commercial.

Who do you think designed and built the Saturn V? Redstone? Atlas? Ariane?

Commercial companies making a profit.

[termain]

Roughly:

Redstone: Designer: Army Ballistic Missile Agency (Now Marshall Spaceflight Center) Manufacturer: Chrysler

Atlas: Convair and its successor interests (General Dynamics, Lockheed, ULA)

Saturn V: NASA Marshall, Boeing, North American and Douglas

Ariane: EADS Astrium and Arianespace/CNES (French Space Agency)

So, yeah, they've always been commercial, but they haven't always been commerically driven or (entirely) commercially managed.