Tesla reiterated on April 22nd that they were still going to start production of the cheaper EV in H1 2025. When they were asked if it was just a model y with cheaper trim inside, they were a bit cagey, but said they're somewhat limited to the body shapes that the existing line works with.
To me that sounded like it'll look very similar to, but it's not in fact just a stripped down 3/Y. A stripped down Y might be something in addition to this.
I can't wait for this thing to be revealed whatever the fuck it is though so all this talk can stop.