I wouldn't exactly call a company that had ~8.88 billion in operating income and 96 billion in revenue in the last year a pump and dump.
They've revolutionized the auto industry, and helped move the electric car forward by A LOT, and they are delivering millions of cars every year.
However, outside of the US, the competition is quickly gaining on them. BYD (+ other Chinese companies), Kia-Hyundai, VW group, etc. are all gaining on them and I don't think that selling Tesla as a tech company is really panning out. People claim that they have tons of other tech, but at least currently the non-automotive tech (including charging stations) is about 15% of their revenue with a relatively low profit margin of 11%, and FSD has been "next-year" for a decade.
Yes, the Elon hype is real, and o/c he's obviously overpromising tons of tech that doesn't really pan out, and his fanboys are happy to prop the stock, but the value of the company (currently) isn't as insane as it used to be.