Laugh all you want but space is already militarized and we'll dominate there too.
At the very least this will be a four-star unified combatant command that will oversee space assets and operations, and is needed for the same general reasons SOCOM was formed in the 80s to oversee the special ops components of the services. At most it will be a separate service.
You can "oversee" my "space assets" any time... SOCOM sounds nice.