[dragontamer]

Tesla as a brand will certainly continue to exist.

Alas: that's not what is being discussed. If Tesla were to enter bankruptcy, then it legally is no longer necessary to uphold its end of any bonds, payments, or other such financial issues.

Tesla might go bankrupt in the next few years, if this Model 3 thing doesn't work out. At which point, it won't return any of the money from these reservations.