I'm not any kind of stock valuation expert, but I figure a big part of Tesla's share price (and GME's for that matter) is just the natural market consequence of too many short positions and someone calling their bluff. The current valuation might not be rational, but that's beside the point. A lot of money was invested betting that Tesla would fail (or at least, the stock value would fall), and the consequence of them losing the bet is that they have to buy stock at whatever the price happens to be, thus driving it higher. I see it as just the market correcting itself, not some inherent bug in the system. (There's an argument that maybe allowing people to short stock in the first place is a regulatory bug.)