This would be a decent competitive alternative if it truly delivers.

My concern would be that this is, once again, a private company on private infrastructure. So although we've added another competitor to the mix (for a grand total of between 1 and 3 in most areas) we would still rely on heavy government regulation to protect Net Neutrality. I don't trust any companies at this point to keep my best interests in mind, whether it's run by Musk or not.

Yes, it is a private company on private infrastructure, but at least it would be competition for existing infrastructure where it exists. That's better than nothing.

If it's more reliable than satellite TV has proven to be, and has a reasonable latency, then yeah. Another competitor will be quite welcome, especially in rural areas.