Another design approach

If SpaceX manages to meet the specs of Falcon V - 9200 pounds to
LEO at $12 million - what can be built in various price ranges?


ie, if you have $20 million, would that be more than enough to
have a business model based upon launching picosats? Could you
build a chassis for 24 picosats and have a reasonable chance to
recover your costs?

For $100 million, would it possible to launch a small inflatable
space station?

What does this do to the economics of development?