But technology and production methods got way cheaper in the past few years…

Just for comparison - prices back in 2016:

Pebble 2: $99 Early Bird, retail price: $129

• HR sensor
• microphone
• activity + sleep tracking
• water resistant to 30 metres
• battery life up to 7 days

Pebble Time 2: $169 Early Bird, retail price: $199

• HR sensor
• stainless steel case
• microphone
• activity + sleep tracking
• water resistant to 30 metres
• battery life up to 10 days

“European Starlink rival” is a bit far fetched when there’s merely rumours that they might be able to offer a similar service. But that’s the stock market for you.