1. The average person doesn't know. I bet your parents don't check the privacy policy when they download an app.
2. The average person might not care. We live in an era where lots of people would literally put listening devices in their houses.
3. If you're already on Twitter, a decent amount of your data was already being shared anyways.
4. Most people go to different social media platforms because (paradoxically) people are on those platforms.
5. A decent amount of people might just dislike Musk because he calls people pedophiles for... helping kids or cucks for... making competing software??? So they'd rather give money to the next billionaire available.

This link has a decent comparison of a lot of social media sites' privacy policies.