I swapped out my Hyundai Elantra (with 60K miles on it) for a used Bolt EV with 35K on it. There is the $4000 rebate on used EVs and Chevy replaced the battery under the flaming Bolt program so it had a new battery when I bought it. It was about an even trade, I spent no money out of pocket once you balanced all the variables.
I don't have a horse in the game but my observations are that EVs have been sucked into the drama factory that is our national culture wars. You see all kinds of articles that either dislike them or assume EVs are the savior of our planet. They tend to elicit extreme opinions.
My take is that anytime the government uses incentives to distort a market, it isn't as efficient as market forces that naturally harness supply/demand forces. Incentives are often a blunt force tool to get the results wanted.
Another observation, all newer technology or even old technology that has a new use has teething issues in its adoption. ICE machines have a hundred years of engineering and manufacturing experience behind them and the supply chain for their use, and upkeep is mature. All existing technologies in use have a natural advantage and it requires changes in the market to lead to the adoption of new things. Incentives can be that tool.
In terms of my Bolt, it is a great tool for basic transportation for about 99% of my needs and it is cost-effective even without the incentive. The cost per mile for me is around $0.03/mile (our electricity is $0.104/kWh). It does require a paradigm shift compared to owning a traditional car. In its current form, it is inappropriate for long trips due to the charging time. If you charge at home, and your daily vehicle use is < 200 miles, it is fantastic. You need to own a second vehicle to deal with longer trips and that is partially due to the current state of the charging infrastructure, and partially due to the charge speed (Teslas are better but still not equivalent to ICE refueling). Plug-in hybrids with about 50 miles of electric-only range make a ton of sense to me. If I only had one vehicle, that would be the tool of choice but in my current situation, the Bolt is fantastic.