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Dear ESLs
Moonshot, or moon shot, is a colloquial term that refers to any ambitious groundbreaking project that requires both dedication and perhaps a great deal of luck to pull off. Predating and linked to the idiomatic phrase "shoot for the moon", a moon shot also refers to, in sports, any long and unlikely shot on goal from across the field of play, usually done at the end of regulation time because the most likely outcome of such an event is to miss and hand the ball over to the opposing team. Shown in OPs image is a player attempting a basketball shot from 3/4 the distance of the court, embellished by image editing as if he were literally trying to land a basket from the distance of the moon.
As a term, moon shot has faded somewhat in general popularity because america, you know, already reached the moon, which kinda defeated the purpose of the idiom as something ambitious or groundbreaking. It remains popular in american sports terms because the other option is the "hail mary" in american football, and every sport that isnt american football hates catholics.