At the rates you quote, $1 T (the size of the market) is 714,285 tons of stuff in the space each year. I don’t think there is enough space in space for that much cargo.
Let me introduce you to the 30 km long rotating O'Neill Cylinder: https://en.wikipedia.org/wiki/O%27Neill_cylinder
Although realistically this will be built from lunar materials, you still need to lift a lot of mass to build the necessary industrial processing and mass drivers to launch it from the Moon to some Lagrange point.
And there are many other useful space megastructures that can be built in space from common materials, like giant solar arrays beaming power down via microwaves: https://en.wikipedia.org/wiki/Space-based_solar_power
Most of these proposals date from even 1980s.
I guess for a trillion dollars vine can built Elysium. Generating solar power in space (vs. on the ground) makes as much sense as running AI inference in data centers in space.