But it's at least as reasonable to think that people will keep buying EV versions of their favorite cars. Not only is there significant brand loyalty in the car markets, but there's no particular reason to think that Telsa can be all things to all people. Tesla only has 3 models total; Toyota alone has 5 models on the top-25 list. The current Tesla model lineup appeals to a pretty specific demographic, and I don't see much sign Telsa can expand beyond that.
There's plenty of sign that other manufacturers will catch up. Consumer Reports has studied 20 EVs. They recommend 5. Tesla only has one model they recommend, and it's in the middle the scores for those 5. The Kia EV 6 gets a 91 and the Genesis GV60 gets an 84. The Tesla Model 3 gets a 78.
That's all before we get to Musk. Tesla got gobs of free publicity and cheap capital because of his PR savvy. But that has now gone into reverse, with no sign that Musk even thinks that's a problem: https://seekingalpha.com/article/4562466-can-tesla-survive-w...
And personally, I think "Tesla is a tech stock" and "Tesla will become the dominant car manufacturer" are theses that are at odds. Tech stocks are high margin businesses. Niche luxury cars, as Tesla has been to this point, can be high-margin efforts. But the mainstream market won't be.