Not exactly a Ponzi scheme, more a mass popular delusion. All of us get most of our information from third parties. The media have been thoroughly politicized and dominated by people with virtually no technical or scientific knowledge who are easily lead and manipulated by artful and deceptive characters. Although, frankly, calling Michael Mann "artful" is an adjective too far.
“Every age has its peculiar folly—some scheme, project, or phantasy into which it plunges, spurred on either by the love of gain, the necessity of excitement, or the mere force of imitation.”― Charles Charles Mackay, Extraordinary Popular Delusions and The Madness of Crowds
Whatever you want to call it, the climate/EV insanity is not “sustainable”. In a free market price is an indicator of the resources necessary to produce a commodity. Without massive subsidies EVs are too expensive to be anything but a minor niche product. Wind and solar are not “sustainable” because 1. They are too unreliable and 2. They are too expensive capital cost wise for competitive advantage over conventional generation (except hydro and hydro is pretty much maxed out site wise).
Without government’s thumb on the scale via subsidies to the EV industry and impossible emissions standards on fossil fuel generation the market would put all of this nonsense on the ash heap. EVs were already killed once 100 years ago by market forces and now they’re back with the same problems that consumers rejected them for then propped up by government foolishness.