Wasn't SpaceX's insane valuation largely based off of Grok, because their rocket and satellite businesses could never be valued at over a trillion $$?

I don't see your metaphor to iphones and flip phones. This new Luna model is cheaper than deepseek 4.1 flash, except for cache reads. OpenAI having to compete with China is a much larger economic-political issue that is far larger than just our AI labs.