The interesting part is how this contradicts what Elon's original stated goal of the company was.

I am a Musk believer, and when he started Tesla he stated his goal wasn't to be a major car manufacturer but to be a proof of concept to push the major players into the space. He demonstrated this by the open sourcing of EV patents.

Tying compensation to cap value of Tesla means that he no longer believes the major players will adapt (although there is strong evidence that his original plan has worked and the other manufacturers are making much larger investments in EV), or that the auto's segment will grow as a whole so significantly, that Telsa, as a minority player, will still be able to reach a 10x size over the next decade.