While you are correct, Elon's point is about "the writing on the wall" and in that, he's on point. Other than the small (OK, small-ish, given Virgin Orbit) startups, most aerospace companies are leaving CA or not bothering to incorporate there.
So much modern aerospace technology historically comes from SoCal, and yet CA as a state doesn't seem to care about hanging on to world-changing industries like it.
Your example about Aerojet Rocketdyne is telling. They are contracting - I believe the Aerojet facilities in Sacramento are being divested if that's not already done. Boeing is divesting most of its Huntington Beach campus, and Rockwell in Downey is long-gone. A lot of Space Shuttle Main Engine/RS-25 work is done at their Stennis facilities or in Huntsville.
Aerospace in CA is not healthy.