Tesla is a lifestyle cult. It’ll never convert legacy buyers (Ford and GM loyalists, broadly speaking) in material quantities. Brand demand is young folks that will buy and stay with Tesla.
Imagine you are selling widgets that cost you $40 to make, and you have figured out that the price of widgets where you make the most money is $50. Any higher and you sell too few widgets to make more money. And less and you don't sell enough extra widgets to make up for the lower margins.
One day you found a supplier that is cheaper and reduces your cost to $30. Do you change your price?
He's also warned that Lightning pricing is too high. Given Tesla's manufacturing capacity, it is a meaningful threat. They aren't installing all those casting and stamping machines with the intent to do a Lightning-esque <1k/week.
The Mach-E has similarly been going up and down in price based on (mostly) battery cost.
I don’t think Ford is scared of the Cybertruck.