You are assuming that people will still buy new ICE vehicles, despite them now costing more.
They would cost very slightly more, versus a decent reduction in price of an EV. The whole point being to make the EV seem more attractive. And as I said, if and when it gets to the point that it becomes self-sustaining, then we can wind down the subsidies.
As for the 7L V10 Chevy truck? Again, where is the EV version? And yes, there are use cases where such a vehicle is the best vehicle for the job. (mainly towing 3.5 ton trailers).