I don't care about an IPO or the stock market, but saying SpaceX hasn't created anything is peak ignorance. They are solving the some of the hardest problems, including full reusability, efficient thermal protection, and the infrastructure needed for high cadence flight.
SpaceX didn't create anything. The stock market is simply fake. Over the last 3 years SpaceX has actually had a net loss of nearly $9B. Only one of those years was slightly profitable, yet it's worth almost as much as Microsoft, which had a net income of $263B over that time.