I was wondering about the accounts of JKR and Julie Bindel making fun of people thinking it's the nazi reference.
I'm skeptical, too, about saying, well Elon is an excitable guy, it was just out of happiness.
What matters here is context. The whole political background, the story, the connections they have, the supporters they have, the pardon for the Oath Keepers and others, his influence as a person....
I think saying he did it in a way he has plausible deniability is quite correct. That way, no-one can pin him down on it but it's still a sign and the photo is already as iconic as the one of injured Trump after the attack (side note: Guardian lamenting Trump was elected but also Guardian being one of the news sites who published the photographer's account as background story and ran the photo multiple times - this photo was very important in the elections and for the perception of people).
Comparing to photos from the ballet or other politicans using their left hand and so on is absolutely not the same.
Additionally I think Musik is doing some pick'n'mix: Libertarianism, technology as a saviour, supporting right-wing movements, intense focus on cost-saving (there were multiple reports on how he ran his companies to the detriment of the health of employees), freedom of speech unless it is against him or his interests, when he turns around and trolls and attacks people relentlessly (also wanting to forbid the account who tracked his flight movements), the image of the manic inventor, focus on the breeding movement (more children = more worker bees)...
There is probably not a pattern of the past that he copies 1:1, it's a bit of everything.
His support of specialist immigrant visas against Trump likely does not mean he supports immigration or human rights. He and the other tech bros probably just don't want to lose some educated specialists which are important for their businesses, it's only about their own interest.
Today I saw an article which describes some of his and Peter Thiel's (PayPal and libertarian billionaire) upbringing in South Africa and their connections:
www.theguardian.com/technology/2025/jan/26/elon-musk-peter-thiel-apartheid-south-africa