Honestly this could be true, however I dont think musk would risk most of his wealth on non-viable tech. The dude does a lot of really dumb stuff with his money, but in terms of investments and new products, his largest tech investments have a remarkable track record.
The lowest-latency long-distance communication in the world, by several milliseconds, will be worth far more, to just the right people, than any number of streamed sitcoms and whodunits. I do not doubt Musk will make a fortune on it. I just don't think it will be of much immediate use to you, me, or Disney.
But first he has to launch it, and, before that, raise money to launch it. Investors' tiny minds need to believe in massive disruption, just long enough. They will get paid, just not the way they might guess.