The OEM's are looking to transition out of ICE by 2035, not that all cars on the road will be EV.
20 years ago, what was the outlook on hybrids? I bet none of us would have been willing to bet on their ramp-up. Now look at the ramp-up on AWD--and there is no government incentive to go AWD (maybe we could argue that people are "pushed" into CUV's just like into 4 door pickups, not sure but there might be an argument there). Now combine both government incentives plus consumer demand. Is it possible for a large swing like this?
Smartphones had a similar ramp. Granted, different commodity. But I think other technologies had disruptive changes similar to this. Ice boxes to fridges, microwaves, LED lighting.
The energy to run all this, yeah that's an issue, no doubt.