I think he is less worried about competitors than the government itself. Specifically, unelected bureaucrats with lots of power and few responsibilities.
Elon now IS an unelected bureucrat with lots of power and few responsibilities. If he's really afraid of that kind of thing, he should throw himself out.
He will actually use his position in the government to take down his competitors (by, for example, stopping the tax benefit of EV). Elon has grown into the biggest corrupt guy
