That might be your personal perspective, but the market's attention is on the AI aspect. Tesla's market cap is higher than that of any other western car company. And not because of their ability to mold metal.

In the future, a car without self-driving software will be as useless as a computer without an operating system. Hardware companies will be at the mercy of software companies. All the margins will be made in software. Hardware already has super thin margins nowadays.

Nokia didn't fail because of the way they made phone hardware.