"Excuse to delay" is not a cynical read at all.
> Musk admitted to his biographer Ashlee Vance that Hyperloop was all about trying to get legislators to cancel plans for high-speed rail in California—even though he had no plans to build it.[1]
He knew it would delay CA-HSR and political will for it nearly died.
1. https://time.com/6203815/elon-musk-flaws-billionaire-visions...