Iridum gains 23 launches per year with 100% success rate in the past 12 months, a satellite manufacturing pipeline with 6 satellites produced and launched, and a cost-to-orbit of $25K/kg operational (with an in-development design targetting $4K/kg).
They are late compared to SpaceX, to be sure:
150 launches per year, 2400 satellites manufactured per year, $3K/kg operational with F9, target $200/kg in development with Starship.
We know from the graveyard of companies that reached orbit with their small rockets and ran out of funding before they got to be reliable, that reliably flying even a small rocket is pretty good.
They are late compared to SpaceX, to be sure: 150 launches per year, 2400 satellites manufactured per year, $3K/kg operational with F9, target $200/kg in development with Starship.