It doesn't really matter if the individual companies make money.

Is the society better off with EVs?

For any nation that need to import the fuel, the obvious answer is yes.

Cheaper, more efficient transport that causes less pollution and reduces reliance on fickle energy supliers is a step up the civilizational ladder.

For nations that sell the fuel it's more complicated but I think the game theory works out in the end as EVs being better for them too.

Are the benefits from the oil sales being broadly distributed? If so you're likely to see EV uptake. Is it hoarded by oligarchs? Maybe they'll slow walk the EV transition in areas they control.