He's a CEO. His job is to guide his company to make money. His actions are actively doing the opposite: he is causing his company to lose money.

While this happens from time to time, a smart, presumably stable CEO reverses course and engages in damage control when this happens. Instead, Musk is doubling down hard, despite knowing full well this is likely to destroy the platform formerly known as Twitter.

Look at it this way. You have an investment banker than handles investing a great deal of your money. You just found out said banker just made a series of awful decisions which caused the investments of several of their other clients to crash. They are unrepentant and refuse to take responsibility, instead telling those involved to go fuck themselves.

Would you want that person to continue to handle your money?