Devil is in the details, of course, but yeah, you can put up your own sat for $8000. See here for more details.
It’s not a permanent satellite. Essentially, they shove your satellite into a rocket with a bunch of other ones. Once the rocket is in very low orbit, they are all ejected out. They roll around in low orbit for a few weeks before burning up on re-entry.
Still cool, but don’t plan on creating your own GPS network or Satellite TV service. I suspect ham radio experimenters will love it.