I've had my Tesla doing 150 MPH with all the wheels off the ground. It works like a normal car.
The question is - if it can eventually work out that the tires are too small, and the GPS and speedo don't match over long times:
1) Why does it care? As long as all 4 corners are the same diameter, everything like ABS, TC, ESC, etc would work fine.
2) Why is the only result of this slow 1/4 mile times? Not other errors?
I think this is more likely tied to the fact that Tesla manages the power output of the motors very specifically based on acceleration. WOT is not always full power, and WOT on flat ground may not be full power. In this case, I can see the computer being confused about acceleration measured as wheel speed change (with an assumed diameter) vs power output, and limiting power in this case.