The low suspension setting absolutely destroys tire wear. I know this from experience, as well as confirmation from Tesla. I've gone through 5 sets of tires over 185k miles. I had always forced the low setting, but after ~10k miles on each set they all developed severe warping/feathering leading to a very poor ride quality and insane tire noise. It wasn't until the last 2 sets (winter and summer set) that I found this out and disabled the low setting completely after I had driven about 8k miles on them and they started feathering already. After I disabled that, those tires stopped getting worse. And before someone says "check your alignment", I've had it aligned about 7 or 8 times, so that's not the issue.
The problem is not as bad now as it used to be though, because the 'original' (2012-2013) low settings was MUCH lower than the current low setting. Some time around 2013/2014 Tesla disabled low suspension for a few months while they decided on what to do to address this issue, and eventually gave it back to us in a crippled state (low is not really low anymore, they changed the height to be a lot higher than it was). They marketed it as addressing the 'running over tire hitch causing fires' issue but in reality they used that as an excuse to mask the tire wear problem. They'll never confirm that to you though, but I got that info from Tesla higher-ups directly once and they told me not to tell anyone. Basically the low suspension puts more stress on the inside of the tires leading to very bad irregular wear patterns. So don't use it unless you want to deal with bad wear and poor ride noise.