Imho it is more likely that he is using it to consolidate a voting bloc. Much like how all the partisan propaganda in the US of civil war convinced right wingers to rally around Trump and left wingers to not take it seriously. If you think that they will try to overthrow your way of life, you'll simultaneously announce you are prepared to defend yourself and - more importantly - you'll vote for whatever resembles your way of life.

Elon doesn't profit from chaos, he is just using psychological manipulation to empower his allies.