It seems that EVs and ICEs are sufficiently different that traditional car companies don't really enjoy nearly the encumbrancy advantage they once had.

The top EV manufacturer started as a battery company. The second place EV company started as an EV company.

Various ICE manufacturers have spent decades innovating and refining ICEs and building logistics chains optimized for ICEs.

The big problem that the high end ICE manufacturers have is that the things that made them special in the ICE market don't apply as well in the EV market.

You can potentially justify 6 figure price tags if you're in the luxury market. Hire famous designers, pay for premium materials, and leverage your brand name. If you want to sell cars for 6 figures based on performance, they actually need to perform significantly better. There are a bunch of much cheaper EVs that have better performance.

Just jacking up the price and relying on conspicuous consumption is how you get the Fyre Festival.