Common heritage nonsense

...first specifically enunciated in international law in the Outer Space Treaty of 1967.

In other words, just making stuff up. Private property is the solution.

What does protected from exploitation mean? Why would you have to protect something from an owner? If they manage it badly some other owner will get their chance until eventually it is managed better.

Under private ownership, it is the owner who suffers if mismanaged. As it should be. Central control doesn't work.