That tells you everything about the valuation of Tesla on the stock market. If Apple was not willing to buy Tesla at 1/10th the price, they think that they can replicate their products much cheaper.
If Apple (or any other tech company) did think they could create a dominant market position taking over Tesla, they probably would have. That is what the tech industry does.
But I don't think Tesla can make the car industry much less competitive. It is not so difficult to build an electric car. And cars will be much, much cheaper once a large percentage is electric. Maybe if you want an Apple-equivalent in a car, you will buy a Tesla. Most people will buy the cheaper cars.