Sure, because you're looking at some faux value in a 'stock market' that you think has actual meaning and value.
The reality of it is that a single incident can drive Tesla stock to be worthless (and I don't mean anything related to the actual cars either).
If you measure success by the stock market, you're an idiot. The stock market is a measure of how well scammers can get stupid people to buy virtual pieces of paper (they don't even use real stock certificates anymore) as if it had some meaning or value. Stocks are a great con game, company value has nothing to do with winners and losers when you play the stock market, it has to do with dumb and dumber, and how to get those people to buy stocks so you can make money from nothing.
Tesla's position in the stock market is a direct result of idiots like you who think they are valuable and buy virtual pieces of paper that have the companies name on it. Thats it. When that fad dies, Tesla will have to stand on its own, at which point it will succeed or fail. If you did that right now, it'd implode nearly instantly.
Tesla still would not exist without ongoing subsidies. Long term SURVIVAL, not profit is the point of those subsidies. Take everything they get away today, they go under within a year. Thats not really successful by most peoples definition of the word.