I get 500 customers/satellite (2,300,000/4,500) since 2021, and 1000 new customers per satellite for Q3 2023. Using the lower number of 500 at $120/month, that is $7,200 per customer, or $3.6 Million per satellite over a 5 year lifetime. 4600 operational satellites (out of 5700) over 134 launches equals 34/ launch or $124 million revenue. or $250 million/launch if we want to use thee 1000 users/satellite number.

Space X sells commercial falcon 9 launches for $ 67 million (to GTO opposed LEO) and this already includes a profit margin.

It still isn't obvious to me.