I agree on all points except that the most worrying thing is the entry of Mercedes, BMW etc. First of all, GM and BMW have sunk a lot of money in electric cars

I agree on all points except that the most worrying thing is the entry of Mercedes, BMW etc. First of all, GM and BMW have sunk a lot of money in electric cars that are on the market and being crushed by Tesla in sales. Second, and most importantly, car brands are incredibly valuable. People said that the Prius would go away when other car makers started making hybrids. After years of competition, the Prius still dominates. Why? Because the economic reasons for owning a hybrid really aren't that compelling. The social signaling reasons are. So, if you want to say those things about yourself you own a Prius because everyone knows you are driving a hybrid at a glance. A Tesla makes a different-- but I would argue equally powerful-- statement to all who behold it. If Tesla goes into bankruptcy the brand and the cars will be revived.