I think Bezos and Branson are just lagging Musk in execution. But that does not mean theirs are vanity projects. In the long run, Bezos plans to create a platform like AWS for space launch. And it's OK if it happens by 2025 or 2030. SpaceX, for all the wonderful things it has achieved, won't be able to cater to all space launch requirements. There needs to be a competition.