If Hughes could do something in the next 5 months (talking about a new, way faster satellite, with way lower latency, and dropping data cap, giving a stable 20 Mbps speed (or maybe 15 or even just 10, that works really good) I would say it could work. But passing the new satellite to somewhere 2021, that would be a late action.
It takes years to design, build and launch a satellite, as well as the infrastructure to support it. The new satellite going up in 2021 has been the plan all along. It was never planned to go up earlier than that. And, actually, with the pandemic, it may even end up being pushed out further.
Unless a relatively few customers are willing to pay very high prices to keep the company profitable, there will never be a geostationary satellite internet company that can offer service with a guaranteed speed and no data cap, as the only way to do so would be to considerably limit the number of subscribers on a given satellite. The latency is also something that can't be improved with geo sat internet, as the sats are always 22,300 miles out. They can always improve the infrastructure, but that could only lessen the latency by a few ms.
LEO (low earth orbit) satellite internet, like Starlink and possibly OneWeb, is the satellite internet of the future.
OneWEB is done, unless Bezos or someone else who will keep the project running not buying it. So right now, it's only Musk and his Starlink.
I just feel sorry for Hughes, because I find their company excellent. Sure, the technical part is slow, but their customer service is great. So, I'm not sure what's going to happen to them. The new Satellite is not going to help them. Are they going to invest in 5G? Or maybe they are going to merge with another company?
It's doubtful they are going to invest in 5G.
The new satellite will more than double their current capacity, and will enable them to expand into the southern hemisphere as well as offer improved service in some of the areas where service already exists.
Though LEO sat internet will put a dent in their business, I doubt HughesNet is going anywhere.
I'm still not technically convinced that a 2-way LEO system is going to be viable if the orbit/constellation is going to be one that's not geostationary. Reception should be ~95%, but sending back may require an antenna with a gimbol driven by geopostioning software that can help constantly track its location. That's a lot of constantly moving parts as well as something that requires the installation to be precisely installed - even more critical that the current dish installation, and certainly not on someone's roof, side of a barn, etc.