They are planning to eventually release a more affordable Tesla, just as soon as they can scale up enough that it's viable. The first car they made (the Roadster) was a very expensive supercar, which they sold in low numbers. Then they made the Model S, an expensive, luxury sedan, which they're selling a lot more of. I'm not sure if pricing has been released yet for the Model X but I suspect it'll be cheaper than the Model S and will sell in even greater numbers.

Elon doesn't really seem to be in this for the money or the luxury status - he seems to just care about building great cars that are good for the environment. As soon as he can make really good, affordable electric cars - I'm sure he will.