It's ~28k without them, particularly when considering recent inflation it's an attractive price... inflation corrected it's in the vague ballpark of other small IC trucks when they were still available.

E.g. a early 2000's Nissan frontier base model was $23k in today's money. It was a somewhat better speced (e.g. more hauling capacity) and much better range, but this new car likely has significantly lower operating costs that would easily justify a 5k uplift.

So I think it ought to be perfectly viable without the subsidy, especially so long as the absurd CAFE standards continue to exist giving EV's a monopoly on this truck size.