The cruise control in Teslas cannot (yet?) drive you from point A to point B or even keep you driving in one direction forever without you holding the steering wheel occasionally or even hitting other objects. It can (just like cruise control in other cars) warn you if you are about to do something stupid (e.g. leaving the lane, about to hit an object etc.).
This is like people using foglights in cities at night to see better. You can use it for that, but it isn't made for that purpose. A light meant for FOG or other scenarios where the car itself is hard to see and not for you to light up everything in front of you (as it is quite bright if not used in fog).
Because of this, an aircraft under autopilot (especially one ascending and descending on its own) doesn't need to worry about hitting things. There is usually a distance of 3-5 miles¹ between the aircraft and other hard objects.
I would say calling the Tesla system an Autopilot is vastly understating its abilities.
¹ http://aviation.stackexchange.com/questions/2806/how-much-is...