And with only a $100 deposit, the pre-orders don't mean much.
Still, it's so expensive GM will make money on it. They probably won't have any problem making however many people are willing to order. It's a niche item, though.
Ford has an electric F-150 truck coming out.[1] Ford's goal is to make a cost-effective work truck, not a "lifestyle vehicle". If they succeed at that, the impact on the industry will be huge.
[1] https://www.autoblog.com/2020/09/17/electric-ford-f-150-deta...
Misguided people will tell us that it's all about 4WD, but you see the same phenomenon in 2WD trucks and besides it didn't used to take so much clearance to add another differential under the engine and engines are smaller now anyway. The real reason is to sell pickups to people who don't need pickups. If they worked for a living they'd get annoyed just like we are. They should have been sold lift kits instead.