I think it continues to be under-appreciated how much of a lead Tesla still has in EVs. Even BMW can't make something that is practical. First people said "competition is coming" for about a decade. Now the competition has finally half arrived, but it's still so far behind. Perhaps the closest is BYD, but most BYD drivers would prefer to be driving a Tesla.
Lots of the traditional car manufacturers now have good options: Renault, Nissan, Kia, and Hyundai's EVs seem to be particularly well regarded. I'd definitely opt for any of those over a Tesla given Tesla's reputation with regard to quality and repair costs. If you ignore cost, then Tesla's cars are probably still better at this point, but the gap doesn't seem that large.
That means more complexity, sub optimal design, less efficiency, etc. However, competition is indeed brutal right now. Tesla did something that only some other manufacturers have managed to copy so far: make cars that are EV only from the ground up. Love them or hate them, they don't make any design compromises to allow space for a combustion engine, a generator, or whatever. There's no room for a transmission, a fuel tank, or even an engine compartment. That's where the Frunk goes. The result is a car that's simpler, more efficient, and more optimal for what it does.
BYD did the same. Kia and Hyundai are having a lot of success with their electric only line of cars. And in the EU Renault and the Stellantis group have some decent and competitive low cost models on the market. Tesla's advantage is rapidly evaporating here.
Japanese car makers have been more conflicted on this. But Nissan's collaboration with Renault is giving them access to the right tech to adjust course. And even Toyota is now using a lot of Chinese made drive trains and components to finally offer EVs that are actually not that bad. The danger is of course that "made in Japan" has very limited value in this world if all your core tech is effectively Chinese and European. That's something that might change in the next years of course.
Cost wise, buying a compromise car means having to deal with more that can break, more components that may need replacing, and a lot of increasingly obsolete parts and components that are no longer being modernized. Combustion engine R&D ground to a halt about fifteen years ago. All those fuel injection systems, and other computer intensive hardware that keeps them going is aging fast and not really being invested in a lot at this point. Sourcing replacement parts might get harder and more expensive over time.