It's a cult. Really. This is a stock devoid of any connection to reality, fundamentals, products, anything. All that matters is that Musk is on the nameplate. Do not bet against the ability of people in a cult to remain irrational in the face of overwhelming evidence. Do not touch the cult.
It's a bit more than just his name. It's the statements he makes, that turn out to not be true.
If it's a cult why BlackRock is heavily invested in TSLA? Should not be they more rational (e. g. look at P/E ratio and other financial stats).