“Markets can remain irrational longer than you can remain solvent.”
TSLA's value has never been correlated to the fundamentals of the business. So it continuing to do so isn't super surprising.
As long as there's a steady supply of unsavvy investors/future bag-holders willing to buy, it'll keep climbing.
That ended when Musk went on one of his earlier whimsical firing sprees and destroyed the charging team. Had he instead beefed it up, charging could become a money printing machine. Even with his sabotage of the charging teams, Tesla charging is better than other but it could have been so much more
Why would you want to be that, though? The only way to maintain that would be to run it at very low margins; it's hard to imagine a more commodity product and if you have high margins and significant revenue, people will just set up competitors with slightly lower margins.