Tesla is the ONLY pure EV company that actually has a chance at remaining a viable concern as a standalone automaker. They had first-mover advantage in the market and they've actually been able to scale somewhat. I still have concerns about them, but I also feel like Tesla has a chance at being the "iPhone" of EVs... I.e. even though Android has a huge market advantage (73% share) in mobile handsets shipped worldwide, Apple has a cult following and it's the "fashionable" phone to own. I think there's going to be a demographic that no matter how many times you point out technology advantages that other brands have, to certain people if it's not a Tesla, why bother owning it?
Rivian and Lucid are acquisition targets (once their valuations collapse to sane levels) IMHO. They'll get snapped up when some legacy automaker realizes they're too far behind in EV to do it internally and they need a technology injection. You can't come into this game late and catch up to Tesla, catch up to the Chinese, or even catch up to the legacy automakers that are finally giving EV a serious try. Too many problems with scale.