The headlines in the space industry over the past month have delivered a sobering reminder: space is not forgiving, and certainly not friendly to overpromising entrepreneurs. From iSpace’s second failed lunar landing attempt (making them 0 for 2) to SpaceX’s ongoing Starship test flight setbacks — amid a backdrop of exploding prototypes and shifting goalposts — the evidence is mounting that the commercialization of space is not progressing in the triumphant arc that press releases might suggest. This isn’t just a series of flukes. It points to a structural, strategic and cultural problem in how we talk about innovation, cost and success in space today.

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Robert N. Eberhart, PhD, is an associate professor of management and the faculty director of the Ahlers Center for International Business at the Knauss School of Business of University of San Diego. He is the author of several academic publications and...