The USAF has had a Space Command for decades. Re-branding it and adding some additional functions does not a new thing make! But a flashy new name and another layer of bureaucracy is certain to add new funding.
Eisenhower was president when the the basis for Air Force space command was officially formed. (in large part to manage ICBM development and deployment) Of course the actual beginning pre-dates his presidency by several years if you count what the Army ( and Von Braun's team (AKA "our Germans") ) were doing in the late forties. Then Ike went and gave that farewell speech as he left office in 1961 warning the country to beware the perils of the military-industrial complex. It could certainly be said that the Air Force has been in the space business for over 70 years.
New name, same mission: Control and exploit the high ground. (space)
It's just that now it's about allot more than missiles. Everything from GPS to high-speed secure data comm networks, ISR, EWO and yes, space-borne weapons systems are in play. So maybe a big name for a big package of missions might not be so far out of order after all. I look at it like I do the formation of the modern Army Aviation Corps. (with corps insignia) It wasn't ceremonially activated as a Corps until 1986, ( I was in the parade!) but had been around since about 1860 in one form or another. Re-branding is how progress is defined in today's world!