Ask HN: Tesla electric cars: is the business in the battery

Noticing that Tesla dropped the swappable battery model with a very weak argument (lots of administrative paperwork), and sealing the battery in like Apple (and others) does with their iPhones, a friend of mine stated that in his opinion the real business is in the battery. Considering that having a swappable battery would resolve the main inconvenience of an electric car, which, in my opinion, is the charging time, dismissing so lightly the swappable option seems odd. What does HN think? Can the total control of the batteries be the real business in electric cars? Thank you