Spaceflight

They have so much work to do, but they're past step 0 and step 1. Once they start launching a little more regularly, they're a ULA and Ariane competitor. If they get first stage reuse figured out, they're a F9/FH competitor. Yes, there's a big fairing, so maybe that's a diffentiator if anyone decides to use it. But they have so much work to do to actually make an impact in the launch industry.