Nobody wants to say this, or even admit it: But the 10% production cut is likely because they are producing more cars than they can sell. There is currently a very large inventory of new, unsold cars.
Visiting a tesla gallery now is almost like visiting a conventional car dealership. There is a very evident pressure to put you in an inventory car. PS and OA’s will freely admit that there is a huge number of inventory cars - “what can I do to put you in this car today?”
While it could be true that the Model S/X demand won't hold up, the primary reason is that they need to move bodies towards producing the Model 3.
Besides the misleading title of this thread, the only thing that has been decimated is inventory car supply. Since last Thursday, Tesla has greatly reduced the number of inventory cars, which can be easily verified by vising the Tesla site or checking on sites like EV-CPO. There are also posts about this on TMC forums.