NASA's gamble on a rapid-turnaround commercial satellite servicing mission has hit its ceiling. Katalyst Space's LINK spacecraft, launched July 3 on a Northrop Grumman Pegasus XL from Kwajalein Atoll, cannot complete its primary objective: capturing and boosting the Neil Gehrels Swift Observatory to a higher orbit. An ongoing attitude control issue — first reported during post-launch checkouts — has proven unresolvable for the capture-and-boost profile. The mission will instead attempt rendezvous and proximity operations only, a significant downgrade from the original plan. The stakes were real and the timeline was brutal. Swift, launched in 2004 for a two-year prime mission studying gamma-ray bursts, had delivered 21 years of science before increased solar activity accelerated its orbital decay. NASA awarded Katalyst the servicing contract in September 2025, giving a startup less than a year to build, test, and fly a robotic spacecraft capable of in-orbit capture and reboost. That timeline was always a high-wire act. The wire snapped. NASA Administrator Jared Isaacman struck a tone of deliberate optimism: "NASA should be willing to move quickly and take smart risks when the potential return is worth it." The framing is notable — this is an agency publicly defending the decision to accept risk rather than retreating into post-failure caution. Shawn Domagal-Goldman, director of the Astrophysics Division, called it "a first-of-its-kind attempt, developed on an unprecedented timeline driven by the Sun's activity." The cost-benefit calculus here is genuinely mixed. Swift is gone either way — without the boost, it re-enters later this year. The mission did generate real engineering data: communications establishment, in-orbit checkouts, attitude control troubleshooting under pressure, and whatever the upcoming rendezvous attempt yields. These are not nothing. But they are also not what the taxpayer contracted for. The deeper question is whether NASA's commercial servicing strategy is building a real industrial capability or subsidizing startups through failure. Katalyst got a contract, launched a spacecraft, and will deliver partial data from a failed primary mission. The satellite servicing market needs these reps. But the pattern — fast contract, startup vendor, partial delivery, optimistic press release — has a familiar shape in government procurement. The difference between "smart risk" and "predictable failure" depends entirely on what happens next. NASA says it will "continue to prioritize finding new options to react rapidly to cosmic events, using current missions to help fill the gap" left by Swift's loss. That gap is real: Swift was a uniquely responsive observatory for transient phenomena like gamma-ray bursts. Its replacement isn't on any manifest. The science community absorbs the loss; the servicing industry absorbs the lessons; the public absorbs the cost. The rendezvous attempt, if it succeeds, would demonstrate proximity operations capabilities that matter for future servicing missions. That's a genuine deliverable with forward value. But it's also the consolation prize, and NASA's messaging should be read accordingly.