A company's market cap is a fiction: the price at which a small fraction of the shares was recently sold, extrapolated to the whole. But the whole company would never sell for that price. (E.g., if Elon tried to sell his stake in Tesla today, the stock would plummet.)
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Interesting point yet contradicted by acquisitions of public companies which occur at a premium. So your point only holds for a sale of all shares to the aggregate of individual investors.
On the contrary: if you try to buy (not sell) all the stock, the price goes up. Same principle.
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Your claim is that market cap is a fiction. I guess I agree, although the fiction can be too low or too high, not only too high.
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The fiction is that there is such a thing as the market cap of a company.
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