We then add active optics to compensate for atmospheric distortion, alter airline routes and city lighting to help improve conditions, and then pray for no clouds on the nights we want to observe.
Constructing telescopes in space will become a reality within the next decade, while terrestrial telescopes currently in planning will be finding it harder and harder to navigate the mixture of light pollution, accessibility and indigenous rights. I expect there are terrestrial telescopes already in planning and even at early stages of construction which will never be finished. Between the ever-growing forest of red tape and the ever shrinking cost of building space telescopes in orbit, there will be an inflexion point where it makes sense to dedicate the remaining budget of a terrestrial telescope project to building its spaceborne replacement.
Seemingly fantastically - SpaceX is currently constructing a system designed to launch 100 tons to LEO, for as low as $35/kg [1]. Musk says this capability is what the Starlink business is to pay for. It appears lately, more realistic than it has sounded.
[1] https://caseyhandmer.wordpress.com/2019/10/29/the-spacex-sta... ( https://news.ycombinator.com/item?id=21397285 )
First, as others have pointed out, is size. Ground based mirrors are very large, in the 10s of meters, and those mirrors are extremely heavy, like tons. You can't lift one of those mirrors up on one rocket, so you'll have to figure out some kind of in orbit construction. Not impossible, but we haven't assembled a lot of things in space, probably the biggest would be the ISS. But telescopes have tricky tolerances...
Which leads me to the next issue: not only is it heavy, but telescopes are fragile. They have to be very carefully calibrated and put together. Launching something into space tends to be a very bumpy ride, and making something that can withstand that kind of vibration for launch, and then the thermal problems while in space would be certainly not trivial.
But let's say you could build something and get it to work in orbit. Then it's still hard to service. Servicing the hubble to fix the optics was a very hard mission, and the hubble is relatively close to the earth. And that was when we had the shuttle, which we don't now.
Cooling is very tricky for both telescopes and space. Since there's no air to radiate to, you can get big thermal gradients over the length of your craft and you have to be very careful how you point it. Same for the optics and the camera, you want to make sure they have as little thermal gradient as possible.
Unlike a lot of commercial satellites, many scientific probes and telescopes are constantly refitted and reused. Ground based telescopes frequently reuse the same expensive (typically one-off) mirrors and put better cameras on them all the time. This is pretty hard to do in space.
That being said, being in space does have a lot of advantages, the most obvious one being a lack of atmosphere to mess with your observations. But assembling large telescopes in space still isn't exactly easy.
I think over time though, we will be heading to more space based telescopes as the cost comes down. But many slower moving telescope projects (mostly slow due to government funding) were started before Starlink was even announced.