Even if they will manage to launch these satellites into orbit I still don't get how they going to get satellites connected to the internet? In order to be connected to the internet you need an IP addresses, but ip space actually ruled by american IANA organization and by a couple of RIRs. So, what would stop IANA from shutting down satellites ip addresses?
Sure, these guy can setup an internal network between satellites and ground stations, but every attempt to connect this network to the internet will result in gateway shutdown most likely.
Sorry for my english :-)
You can't shut down an IP. An IP is like a phone number, so you could close the subscription or even bust through the door and shoot the guy with it. But it makes no sense to talk about shutting down the phone number.
However assaulting something that is presently in space is really difficult and it is likely that physical violence would do no good at all.
IANA could "officially" revoke the ip block assignment, or even reassign the IP block to someone else. Then backbone router admins would have to decide whether to route the packets toward the satellite or toward the new owners of the IP block.