It surely seems so. Even China is being a bit blindsided by little Vietnam making EVs cheaper than them. I wager this is our modern day Tulip mania.
Being no fan of "climate change" and EVs, LLMs and the BS about artificial intelligence, as well as being skeptical of much, I don't become enthused by the "latest." For this, my bride and I missed out on our 'vaccinations', on our chance to buy an 'EV', and so much more. To us, the marketing of "imaginary" and "promises" and more are the lovely imagery of "buy my snake oil, but be sure to not buy his."
My son says I am a journeyman Curmudgeon. I respond that he is my budding apprentice.
My skepticism has led me to miss out on very little that was good for me.