Great points! I think you are correct, but the short term pain for them will be low profit margins, increased competition, and a bad economy. If you're long a stock it may pay out - but the valuation at 500 billion is still too high. Most car company's trade at book value, TSLA does not and factors in the robotaxi income and other future income. Tesla already is valued as the most valuable car company in the world without producing or being the most valuable on paper.
TSLA is an extremely risky investment.