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Twitter's lost 13% of its daily users and its rebrand has failed
(www.bigtechnology.com)
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Nope. Nothing failed. This was Elon's gambit the entire time. He wanted to tank Twitter. He was never interested in improving it or making it profitable. Why do you think Saudi Arabia gave him 22B to buy it?
Your position is that a wealthy man deliberately burned 22 billion dollars to destroy microblogging? That he's intelligent enough to plan and execute this perfectly, but too dumb to think of a better way to spend 22 billion on himself?
I think this theory falls apart on examination, to say nothing of Occam's Razor which argues heavily in favor of sheer incompetence.
He burned 22 billion because he was forced to after being a doofus. He is not destroying microblogging, he is destroying the environment around microblogging on his platform. It is his new toy that was never worth what he paid for it, so there is little point (to him) in trying to recoup monetary value. It’s value is to him is being his personal playground.