I wouldn't say he presented it as "bad". He brought up some valid points, like a single power outage in a remote part of China causing a mining corporation to go offline. Which caused 35% of the total Bitcoin network hashrate to drop.
This is far from the decentralized original idea of Bitcoin. He has a valid concern.
A few gigantic ASIC miners have hogged up the vast majority of the total network hashrate. Small individual miners, mining in pools, are now maybe ~5% of the total global hashrate.
Do you think that Elon bough (as Tesla company) $1B worth bitcoin without researching it? Every point that he brings now was well known by every investor and by him in the moment of his investment. He is just fudding now for his own purposes (short term price manipulatiion).
Whoever thinks that Elon is suprised by BTC energy consumtion or BTC decetralization now ... months after financial decysion of purchasing 1B worth bitcoin is crazy. Everyone who thinks he is fudding before selling his bags is even more crazy.
BTW:
https://www.dw.com/en/tesla-shares-tumble-as-musk-says-companys-stock-is-overvalued/a-53308317Elon musk saying that Tesla stock is overvaluated ... TSLA @ 160$ back then. It pumped to 900$ 8 months later.