Tesla relies on overpriced hope

So with the recent announcements of the poor Chinese sales report, abandoning of a cheap, small Ev in the near term and the prospects of increasing competition in China, I realised that Tesla's stock behaves like bitcoin in that the price is not pumped due to optimism but more so because the investors WANT it to be pumped up. You can look at any other American company that's publically listed and you'll see that the share price isn't so bi polar and that caution is usually tied to the share price so that it doesn't rise so crazily. But then you look at Tesla and the day after the sales report was released, its share price began to rebound... Cathie Wood was relying so heavily on robotaxis (what a terrible name first of all) and AI even though she has no meaningful understanding of either term and relied solely on Elon's promise which, through historical evidence, has no validity to it. If the stock was treated as a normal stock then the share price would not at all be what it is now. Personally I don't think robotaxis will be so awe inspiring because the aim of road safety is to increase it, not decrease it and trusting a computer over a human does not seem sensible given that FSD is still so unreliable, its quite a long ways away, even existing companies that offer autonomous driving are regulated in how and where they can use it, see how nobody talks about them?

Tesla's valuation seems like wishful thinking