That slate roof does indeed look good.
Watching the recording of the presentation, I'm left with the impression that the Solar City business model will be shifting to emphasize roofers, home builders, and utilities (new builds and roof replacements). Of course they'll still be a local installer for adding panels to a roof, but an important characteristic of roofers and home builders is that will be a much lower sales cost to approach those folks.
Partly its based on the number of installs SC does already (300k / year, or is it 300k total?), and the size of the annual home roof market. If you've got a cheaper, more functional, longer lasting, etc.. installed product, it won't be hard to get 10% market share. It looks to me like SC can abandon every other segment of the market, get a small % market share of the new and replacement roof market plus continue to do installs for utilities, and be a bigger company in that reduced scope market.
Since I haven't seen details, only heard claims, I'm not yet ready to change my personal investment outlook for Tesla. But if the stated goals can be achieved (and I do believe Elon will get there, even if it isn't true on day 1), then I see another production constrained product coming to market for Tesla/SC.
Clearly, the #1 biggest deal here is what the integrated installed cost is (roof, battery, electric company interconnect). I'm also curious to see if the integrated product is designed to operate independently of the grid, and what the economics of that look like. Power companies and utility commissions are variably supportive of solar, and that leads to differences nationally in the economics of the solar.
The unlimited demand business case is that the roof + battery can be installed for less than a new roof plus electricity that gets offset, given that the local power company doesn't give any benefit at all to your locally generated power (i.e. - the roof and battery reduce your household draw on the grid, and nothing further).
Once they hit that price point, that's game over for anybody not installing these systems (given that enough can be produced - that's a lot of roof tile to be manufactured).