A race to the bottom, means scale, up and out. So far, Tesla (and others) have not done a good job at that. The core reason is the relatively low barrier to enter the EV market. Two years ago, was year zero. Think back how cautious manufacturers and society was. Today, it be hard to find a m as manufacturer without EV in their lineup. So that is the scale out that is already present: dozens of car manufacturers entering the EV market in year one.