There’s so much more room out there than there is here on this finite planet.
There are a number of concerns, from hindering science by blocking pictures taken by Hubble to flat out malfunctioning and crashing into the ISS. For every new satellite the risk increases. https://www.sciencenews.org/article/satellites-spacex-problem-space-pollution
So? The ISS is due to be decommissioned soon and the HST has been failing from orbit for a while now.
Telescopes on the far side of the moon would see far far more than any telescope in earth orbit and especially any on the ground.
https://en.wikipedia.org/wiki/Lunar_Crater_Radio_Telescope
Things in space don’t veer wildly out of control when they fail. They stay pretty much in their existing orbit.
It’s not like these satellites have big thrusters or engines just propelling them constantly around the planet. They’re in a state of free fall. They’re just also moving sideways fast enough that the earth also falls away from them at around the same speed that they are falling towards it.
Lower orbits have far more atmospheric drag, and any debris in those orbits will simply slow down enough to stop missing the planet.
So we will have a bunch of trash circulating the earth, left there by opporunistic billionaires. No thank you. What they have done to the night sky alone is a crime against all of us as far as I’m concerned.
And to think that lower orbit is not interesting any more now that NASA wants to build a telescope on the moon is beyond me.
