The Bolt is a sort of unsexy compact hatchback so I can see it being unappealing to some groups of people even though from all accounts it's a fantastic product that matches the Model 3 in quality.
Tesla should be concerned if GM expands their market by taking their Bolt technology and rapidly expanding into vehicle lines that appeal to other groups, such as a Bolt crossover or sexy Bolt hot hatch.
Personally the Bolt looks a bit lame to me, but I'd consider one that was a bit sportier and that looked about as good as a Golf GTI.