This is true if we believe that since 2017 there had been no battery improvement.Yes. A 500 mile range Model S/X would be horrifically expensive, heavy, and in the exact opposite market direction from what Tesla is trying to do in making very large numbers of mass-market affordable electric cars ala future Model 2
Instead, as we can see in the market, batteries improved a lot in terms of gravimetric and volumetric parameters.
Thus a MS with the same weight and chassis but with a 25/30% more range is definitively possible.
Which is exactly what some other producers are going to offer