The compact Model E aims to be competitive with the Audi A4 and BMW 3-series, which both start in the low $30,000 range.
So... is there going to be a compact Model LC for the sub-30K$ market? A car for the majority of drivers?
I'm sure they are. They started with the premium sedan Model S, then next is the Model X SUV, then this 30k Model E. The trend is definitely towards more affordable vehicles. You just need to establish yourself as a solid manufacturer first with high-profit sales. The success of the 70k+ Model S has helped to fund the factory to allow them to build the cheaper models to come.
It just takes some time.