I'm not suggesting that Tesla (or Musk) are underestimating the competition and taking it easy. To the contrary, I expect they're working as hard as they can.

I'm not suggesting that Tesla (or Musk) are underestimating the competition and taking it easy. To the contrary, I expect they're working as hard as they can. But if it wasn't for these factors, there would be no competition, only annihilation. It's remarkable that there's competition at all. When multiple members of the competition can restructure their R&D budget on a whim to allocate more than your entire company is worth, you need systematic advantages like this to stay in business!