If I were Tesla, I'd do both.
Factor in the price of recycling with a cynical view of the average user and everyone gets a price decrease on the batteries without the sticker shock of seeing the battery cost all at once. Really you'd sell your Tesla's with an already recycled battery and a couple of years of swapping thrown in. You can price it just like you price car insurance, based on amount of miles driven a year.
Anything that puts more control of the most unproven tech into the hands of Tesla, the faster their batteries will improve. But maybe this is all just too expensive to implement without millions of cars on the road.