Can someone explain the actual SPCE thesis beyond the ticker meme?

I’ve been trying to understand the recent SPCE hype, and maybe I’m missing something obvious here. From what I can tell, a lot of the move seems to be tied to the SpaceX IPO hype and the fact that SPCE looks/sounds like “space” or maybe gets mentally grouped with SPCX. So part of this feels like a ticker/meme trade more than a real business thesis. But when I look at Virgin Galactic itself, the company seems to be built around ultra-high-end space tourism. Basically, rich people paying for short suborbital