Yeah, Tesla has all the hallmarks of a ponzi scheme ala Enron etc. Like a man with more than one credit card who keeps switching the borrowing around to keep card companies happy, juggling all the time, or trying to keep all the plates spinning on their poles. He manages to get state and federal funding and keeps them happy with regular publicity of exiting new things coming along that rely on massive step changes in technology that just are not happening anytime soon.
Using state funding to keep other investors happy, once one plate falls they all come crashing down - you can bet Musk has enough money spirited away to be OK when chickens come home to roost, but many people including tax payers will be left well out of pocket..