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Yep. Pretty much entirely vertically integrated as well. One Web is working on the same thing but is beholden to other commercial launch providers, that will really drive up cost for them. The have contracts with BO for launches on New Glenn but BO is only projecting 12 launches a year, going to take awhile to get a full constellation up at a much higher price compared to SpaceX.
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They're launching on Euro-Soyuz until NG comes online. Those are about $80m per pop for a launch for less payload than a Falcon 9. SpaceX internal cost for an F9 launch when they get fairing reuse done is probably $20-25m, over hundreds of launches that adds up to billions of dollars.
OneWeb isnt doing the laser link, is, so it wont have the large low-latency backbone potential that Starlink will have.