Tesla stock collapse - All you need to know

Tesla is down 69% YTD. Although this is a number that Elon musk normally finds funny, I think, in this case, he might make an exception.
In my opinion, there are 5 reasons that led to the collapse of the share price.
Reason #1: Elon Musk acquired Twitter - leading to him having less time available for Tesla
Although Elon Musk is involved in many companies other than Tesla (SpaceX, The boring company, Neuralink), there is no doubt that Twitter is the one taking most of his time at this very moment. This acquisition wasn't welcomed by the shareholders of Tesla.
Reason #2: Insiders selling
Over the last 365 days, there has been a lot of insider selling.

Reason #3: FED increase in interest rate
So far, this is what Elon Musk has been pointing to the most as an explanation for the share price decline. Although the increase from 0% to 4% treasury rate has an impact on the valuation of companies, it does not justify a decrease of 69%. Blaming the rate hikes for a stock price fall is the same as saying the stock was overvalued before, based on artificially cheap money.
Reason #4: Interest rate impact on Tesla's business
What can Tesla do? There are 2 options:
1.Keep prices the same - This will lead to lower volume sold, but profitability (on a unit level) remains the same.
2.Lower the price - This will lead to higher volume, but lower profitability (on a unit level)
Based on the conversation in Twitter Spaces, it seems as if Tesla it is more likely to go for the second option and focus on selling more cars.
Reason #5: It was overvalued in the first place
None of the reasons above and all of them combined, do not justify the 69% price drop. There were many Tesla bears shouting that the stock was overvalued above $200, let alone at $400/share.
So, why am I buying?
Based on my assumptions, Tesla is fairly valued at around $600b (roughly $190/share).
The market tends to have short-term memory. The focus is on the 69% YTD decline, however, it's still up almost 500% in the last 5 years!
The sentiment has shifted significantly, from everything going right for Tesla, optimism about AI day, Optimus leading to wishful thinking, to more realistic thinking, and now more recently, panic selling.
What do you think is the reason for Tesla's stock price crash?