I think his opinion is that the Coronavirus threat has been overblown and is perhaps the biggest direct threat to the future of Tesla.

Following, "We're working on ventilators, even though I think there will not be a shortage by the time we can make enough to matter"

I haven't checked recently, but I believe the vast majority of hospitals are not overwhelmed nor short of ventilators -- but is there any source of data on bed shortages or ventilator shortages? (That was the point of flattening the curve)