Satellite about right for fool (5)

I believe the answer is:

moron

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'fool' is the definition.
(I've seen this before)

'satellite about right for' is the wordplay.
'satellite' becomes 'moon' (moon is a kind of satellite).
'about' means one lot of letters goes inside another.
'right for' becomes 'r' (I can't justify this - if you can you should give a lot more credence to this answer).
'moon' going around 'r' is 'MORON'.

Can you help me to learn more?

(Other definitions for moron that I've seen before include "Halfwit" , "Clot" , "Somewhat feeble-minded person" , "Blockhead" , "Simpleton" .)

I've seen this clue in The Mirror.

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