TTSLA is a derivative. It is not Tesla stock. Holding the token provides zero rights that are associated with a stock.
That said, it is designed to mirror the pricing action, over the long term. With weekly adjustments of the yield, this is created to keep the price paired with the underlying asset (TSLA). With derivatives, one can either move the price or the interest rate. In doing so, it can impact the other. i.e. bring stability.
The goal of TTSLA is to keep the price stagnant in terms of its parity to the price of TSLA while also allowing for the dynamic moves of the price itself. Hence the price can move up or down based upon the movement of TSLA but be "pegged" in its relation to the stock price.