Musk's strength is in making bold plays, assembling teams together to make those plays, and building hype around those bold plays. Those skills were certainly critical for both SpaceX and Tesla in the early days, anyone denying that value is either delusional or pushing a revisionist history. But as companies grow large and mature, their needs change. Is Musk the leader you want when you need to do the boring work of making your infrastructure more robust? Would Musk even want that job?
In the past I was thinking I would really like to invest in spacex. Who know they might do really well. I am not so sure now.
Elon is doing amazing things on a regular basis. What would drive someone to pretend otherwise?
Now he is focused on something else and he is using SpaceX good name and finances to make an AI play.
So yes, I have nobody over the old, lets go to Mars Musk, the new 'its all about AI' Musk, not so much.
Instead of just saying "anybody that wants to put data-centers in space, please pay us".
SpaceX has been incredibly successful without massive acquisition for a long time. Every product the made was a banger. And now they bought fucking Twitter.