Of course comparing revenues of mature companies squeezing their last breaths to new technologies is the ultimate balance comparison. I won’t comment on Rivian valuation nor if it’s responsible to IPO pre sales or finished product BUT the valuation is not in sales here and everyone knows that.
Imagine a VC saying “this company has 0 revenue why would I invest in it ?” Rivian is investing in an idea, now I’m not sure how many people get that but to compare it to some ancient company is useless comparison