Helium-3? Not gonna happen in our lifetimes.
Vacuum/low gravity factories? Maaaaaybe, but then you’ve got to ship the crap to Earth. Won’t be profitable unless there’s a large non-Earth market, and that doesn’t exist, because there are no factories, because the market doesn’t exist…
Solar power? Again, you’ve got to beam the power to Earth, and you’re getting at most half the solar output on the moon compared to orbit. I suppose the advantage is that you can make the panels out of regolith.
Transhipment, see factories.
Military bases? What do they accomplish that ICMBs and SLBMs can’t accomplish?
Retirement communities? Well, sure. Once you’ve got Luna City all civilized, sure. But that’s waaaaaay over the horizon.
Agriculture? Seriously? You’re gonna ship WHEAT from the Moon to Earth? Like I said, you couldn’t ship gold from the Moon to the Earth profitably.
Astronomy, sure. Except build the telescopes and forget the humans.
Tourism, sure. And this is the only really sensible one, except it will require a global economy orders of magnitude larger than the 2008 global economy. Nowadays we have Mt. Everest tourism, Antarctica tourism, in 2108 they’ll have moon tourism. But a tourist ticket to the moon will still cost the equivalent of millions and millions of dollars, the only difference is that there will be millions and millions of multimillionaires who could pay that price.
Living space? Why not live on Baffin Island? It’s about 1000 times cheaper. Sure, I can imagine in the future someone building condos on the moon just because it’s totally fucking awesome, and they’ve got the money. The same person could also build a condo on the summit of Mt. Everest for 1/100th the price.
Anyway, the point is that the costs just to get a pound to the moon is so high that all of this is moot. And the costs aren’t likely to drop by an order of magnitude any time soon unless you’re gonna build a space elevator, which from all accounts currently would require unobtanium. Materials science is advancing to the point where unobtanium can’t be ruled out, but tell you what, call me back when we’ve got it, not before.
In order for moon factories to be possible we’d need some other method than rockets to get from Earth to the moon. In order for moon tourism to be possible we’d need a much larger economy. There’s no possible way to make money at this sort of thing for the next couple decades, and governmental priming the pump isn’t going to help. We need advances in basic science of all sorts, and a much more prosperous earth before we can contemplate such a thing. And even then it won’t be profitable, but that doesn’t mean it won’t be worth doing.