

Overheat as there is no way to disperse heat in a vacuum
This is incorrect. You cannot do convection heat removal in a vacuum because there’s no air. However, you can still do radiant heat dispersal.
So you dump your heat into something that has a lot of surface area with which to radiate it away from your components.
Space is either very hot or very cold, depending on whether you are in light or shadow. If one side is constantly exposed to light, then there must be radiators on the other side to radiate that heat back off into the cold.

It’s the only way to do it though, so you have no other choice.