'A bit later' is really all the is required to meet the standard. https://www.cnbc.com/2020/07/21/tesla-isnt-a-gurantee-for-the-sp-500-even-with-year-of-profits.html

S&P Dow Jones has a history of making companies earn it, including previous Elmo ventures.

I'm not bullish on any of it, and I'm desperately trying to exit AI holdings as swiftly as I'm able, but I am deeply comforted by major indexes requiring companies demonstrate profitability or at least meaningful actual revenue beyond the self-dealing that we've seen between the IPO hopefuls.