Same for a rocket that's ridiculously large for orbital missions but can't go beyond orbit without 15 to 25 refueling flights of the same enormous rocket.

The reasons for both these failing are going to be manyfold and complex, but there are enough simple reasons that everyone should understand.

And it is insane that this warrants a 1.5 trillion USD valuation - for vaporware.

Besides what does FSD even mean? Austin is not Amsterdam.

I have no idea what institutional investors think, and they're probably the relevant group here.

From the way I've observed individuals discussing it, defending it, on HN… it pattern-matches to my understanding of what people these days call "main character syndrome", i.e. that the other companies are just a supporting cast to provide an interesting challenge for the only one that's not an NPC.