The difference here is that space is a lot more international (and thus harder to police) than your wrist.
We really want to avoid https://en.wikipedia.org/wiki/Kessler_syndrome, and so far humanity has shown a pretty terrible track record when it comes to exploiting earth's commodities or ensuring the prevention of long-term global disasters...
Already we have astronomers being increasingly hindered by man-made objects dashing through the field of view of ground-based telescopes.
We really want to avoid https://en.wikipedia.org/wiki/Kessler_syndrome, and so far humanity has shown a pretty terrible track record when it comes to exploiting earth's commodities or ensuring the prevention of long-term global disasters...
Already we have astronomers being increasingly hindered by man-made objects dashing through the field of view of ground-based telescopes.