Is Starlink actually that profitable?

It was recently announced that it breaks even.

I expect it will be profitable in the future as it scales up. But there is probably only about 2x more scaling at the current price point (launching new countries, selling to people who aren't yet aware of it).

Besides just selling more normal Starlink subs, they also have revenue opportunities from selling their LTE cell phone product to carriers, as well as dedicated networks like the in-progress "StarShield" for the US DoD.