I agree and I'm quite pessimistic when it comes to Tesla's future.
Tesla make a respectable gross profit, they can afford their R&D even. Their real problem is that the Sales, General & Administration costs are way,way too high for what they are doing. If they were part of a real car maker, Tesla could use the existing well established sales and logistics capabilities, and solve some of their immediate problems and reduce the SG&A costs.
Tesla Corporation is certainly a financial black hole as it operates now, and if investors, Musk or the government don't bail them out, the company would go into Chapter 11 administration, and immediately be bought out. I suspect there would be a huge bun fight to see who would get to buy them, but I don;t think we'd end up there. Realistically, Musk would try and take Tesla private again before that happened, and either finance the continuing losses from his own pocket, or more likely do a quiet refinancing with a suitable private equity investor. The PE investor would take a big stake, but demand the right to take over most aspects of operational management. They'd then de-Musk the business operations, leaving Elon to be CEO in name, but more CTO by nature.
Maybe Tesla Corporation will go bust, but my expectation is the private equity buy-in. Either way, I'll wager the product and the brand will be with us for a few more decades yet.