Incredibly stupid.
A LEO is needed as a transfer station where people and supplies are taken off a ship specialized for planetary operations and placed on one designed for space operation.
That’s not profitable yet.
Leaving satellite maintenance as the only income flow. And that’s too small.
“Leaving satellite maintenance as the only income flow. “
Tourism.
Contract Science.
Charge smaller countries to send ‘astronauts’ there so they can brag about having a space program.
Zero G manufacture.
None these make enough to BIULD a space station, but they might all together make enough to keep one running.