To me it seems Elon Musk is trying to destroy Twitter on purpose.
Although I would typically give praise for that I feel that there may be something worse than Twitter coming to establish the new public square people hold dear to them so much.

On the bright side at least there is more incentive to run your own social network service. You have Mastodon with people who want more restrictions than Twitter and you have Pleroma with people who want less restrictions than Twitter.

If I had to use a social network service i'd probably go with Misskey. To me it is at least trying to create something original instead of copying Twitter. Plus most of the users are not spewing out pure garbage that you would typically see on Twitter, Mastodon, Pleroma, etc.