if I might shamelessly plug my podcast for all the Polish language readers of this, I had a guest on it, an astronomer from UWr, in which we discuss - amongst other topics - why this is so bad.
TL;DR: billionaires rack profits, you and me are footing the bill for the losses (as this impacts quality of science we can get for our money).
https://lewackiepitolenie.buzzsprout.com/1802226/episodes/9014493-lewackie-pitolenie-o-miliarderach-w-kosmosie-gosc-dr-dawid-mozdzierski