The central point of proper accounting is that it prevents frauds, scams, Ponzi schemes, or other nonsensical companies from existing. Companies that feel free

The central point of proper accounting is that it prevents frauds, scams, Ponzi schemes, or other nonsensical companies from existing. Companies that feel free to abandon those principles are inviting the possibility of becoming one of those kinds of companies. In other words, it's a purely utilitarian argument. If Tesla is abandoning basic honesty in its accounting, then it's likely that there will come a day where, almost out of nowhere, the company collapses. We saw this with Wirecard recently, so this is not a unrealistic claim. This is arguably the worse possible outcome of an investment. My own views are very much secondary to what could happen if this continues. You should view this problem entire on the premise of what the real-world risks are, and how it could affect investors.