Re: there are very few stable low lunar orbits
That depends on your definition of low. At 100 km you are correct sir. The effects of Lunar mascons (short for mass concentrations) distort orbits in this region. As altitude increases mascon effects decrease rapidly. Above 400 km the effects become insignificant.
Also, did you hear the one about the restaurant on the Moon? The food is great but it has no atmosphere.
Drag won't be an issue the hypothetical Moonlink constellation has to deal with. This means propellant isn't needed to maintain orbit like Starlink needs. Dead satellites will need to be actively removed from orbit though.