From what I understand, ground based astronomy is still really important. Not everyone can afford to spend millions to get a new satellite into orbit. Plus once it's up there you are stuck for decades. You can't make changes or test out new hardware. There's also bandwidth problems. A lot of projects are coming up around rapid full sky surveys. IE look at the whole sky every 15 minutes or something like that and look for rare transient events. That would be tough to do in orbit.