It has plenty of value even if not making profits, everyone know how it works.

That is true and also applies to Youtube,. However, remember that shareholder mentality is “MONY NAO!!! FUCK THE FUTURE”. CEOs would have to make a very good case for buying a money sink with very little chance of becoming profitable. Elon bought the company as an individual, so he didn’t have to answer to a board of directors or shareholders complaining about reduced quarterly profits