If the broader market understood TSLA, then the stock would be at $10,000 right now. Institutions acting like apes and riding the FOMO hypetrain isn't new.
I don't know if you know this guy, but there's this person named Gordon Johnson who explains this situation in detail.
In this video, Gordon Johnson explains how institutions intentionally low-ball estimates so that when the actual results come out, everyone has a "congratulatory orgy" over how Tesla beat expectations. This fuels the hypetrain even more.
It's really not a conspiracy. This is straight from the mouth of one of wall street analysts.