NASA has advanced PRIMA (PRobe far-Infrared Mission for Astrophysics) to Phase B development, making it the inaugural mission in a brand-new Probe Explorers class within the agency's 66-year-old Explorers Program. The telescope is capped at $1.2 billion in project costs, with a targeted 2033 launch and a five-year primary mission. It fills a specific observational gap: the far-infrared spectrum between what Webb sees and what radio telescopes capture. The science case is broad but structurally coherent. PRIMA's 5.9-foot (1.8-meter) telescope will survey far-infrared light — the wavelengths where warm dust, forming planetary systems, evolving galaxies, and heavy-element buildup radiate most of their energy. These are signals invisible to Webb's near- and mid-infrared instruments and too short for radio dishes. The last major far-infrared observatory, Herschel, ran out of coolant in 2013. The gap has been open for over a decade. The Probe Explorer class itself is the institutional story. The 2020 Decadal Survey — the once-a-decade priority-setting exercise that effectively governs NASA astrophysics spending — recommended creating this mid-tier mission category. Probes sit between the smaller, cheaper Explorer missions and the flagship-class behemoths like Webb ($10B+) and Roman ($4.3B). The intent is a sustainable pipeline: missions ambitious enough to do serious science, disciplined enough to launch on schedule. NASA's Astrophysics Division director, Shawn Domagal-Goldman, explicitly framed PRIMA as maintaining the cadence of launching "premiere-class missions in both halves of the decade." The international partnership list is notable for its breadth: CNES (France), ASI (Italy), DLR (Germany), CSA (Canada), KASI (South Korea), JAXA (Japan), and the UK Space Agency all contribute. This distributes cost and risk, but also locks in stakeholders with political incentives to keep the mission alive through budget cycles. JPL manages; Goddard and Marshall contribute. The institutional architecture is designed for durability. Phase B is not a guarantee. The mission faces a confirmation review before entering Phase C implementation, evaluated on technical, cost, and schedule performance. The $1.2 billion cap is project cost only — launch vehicle and other non-project expenses sit outside that number. Given the history of space telescope cost growth (Webb launched at roughly 20x its original estimate), the cap's enforceability will be the real test of whether Probe Explorer as a mission class can deliver on its promise of disciplined ambition. The generative logic here is straightforward. Far-infrared astrophysics has been effectively grounded since Herschel's 2013 demise. No current or planned observatory covers this wavelength regime with comparable sensitivity. PRIMA doesn't redistribute existing observational capability — it creates new capability that doesn't exist. The data it produces will be non-substitutable inputs for planetary science, galaxy evolution, and astrochemistry research worldwide. The 20-year question is whether the Probe Explorer class becomes a real pipeline or a one-off label. If PRIMA launches on budget and on time, it validates a mid-tier mission model that could sustain U.S. astrophysics through the long gaps between flagships. If it cost-overruns into flagship territory, it proves the Decadal Survey's institutional design was aspirational rather than structural.