I wouldn't be so sure this alone will be responsible. Hertz acknowledge that their Uber partnership of leasing Teslas is successful and is expanding. There will be a demand for these cars for taxis as they will be good for another 200,000 miles at least! They will also be very affordable 2nd hand cars - and able to get the EV IRA credit as a further discount.
Tesla launched the refreshed Model 3 in the USA three days ago at the same prices as the old models. All of the cars in the Hertz fleet will have to be depreciated accordingly. This is not Hertz's traditional market model - they are being hugely disrupted by that move. Traditional ICE cars in their fleet are on the "normal" two year refresh/four year new model cycle. Tesla don't do that as we all know.
Until Tesla prices stabilise the rental companies will not be happy, and Tesla are still reducing the COGS to produce cars. As it is, even us Tesla retail customers are seeing our 2nd hand resale value drop regularly - just look around these threads! Rental companies have not adjusted their old practices to the new ways yet, and the discounted ICE vehicles will just be too juicy a buy at the moment.