Tesla is basically proof positive that the market, oligarchy and fund managers are all in the Epstein-sphere of influence. No rational market would suffer the type of business management and products that Tesla produces.
Tesla builds actual cars. For a while, these cars were innovative, and the best of their class. Their price was based on a wildly optimistic version of what they could become, but at least it had some nonzero value.
It's true that they've stopped innovating and have fallen behind, so that "optimism" has turned in the direction of "pure delusion". But I still think it's unfair to compare it to something that never demonstrated any value of any kind.
There is definitely a meme element here. It is fair to compare anything to anything, just not to equate anything with anything. There is, I think, sufficient overlap on certain dimensions to warrant looking at them together.