The idea that other companies are now rolling out their first EVs is complete nonsense. The argument 'competition is coming' I have been hearing since 2014.
There are many EV that came out that most people don't know much about since they were not produced in large numbers.
And we should also consider that the battery space is running into material shortages and Tesla had the longest to prepare for that and are the largest buyer of battery materials/batteries on the plant.
Other companies might want to sell more EV, but they will literally not be able to.
You moved the goalpost. What the market cap will be tomorrow is a different question than what is it worth right now. Shares of TSLA are trading at the market price right now. Tomorrow the price and market cap may be different, but it will still be the price sellers will sell and buyers buy.
There is no true value set by Buddha, Buffet, Robinhood, or ML.
I've also heard the argument that Tesla's network of chargers brings more value, but...there will also be more competitors in that space in the near future (and today).
So, it seems shortsighted to believe that "market cap" is going to remain as high as it is today.