Twitter has so far failed to reinvent itself as a primary source of content, or implement the necessary features to become a YouTube killer. But it's not even the right goal, because Twitter's value was always as the place where anyone who was famous anywhere else still had to be. Twitter was never the largest driver of web traffic, but it was definitively the place where The Conversation was happening. If you followed a streamer or podcaster on a dedicated media platform, you also followed them here, to keep up with events and observe them participate in the culture. By making Twitter a walled garden content platform with no means of egress, Elon has destroyed the rationale for the majority of the world's established creators to be here and develop their brand. This turns Twitter into a dying mall that has lost its anchor retailer and is inhabited only by weird off-brand mall stores and sleazy merchant stalls. But more than that, trying to make Twitter "the destination" has associated the Twitter brand and sense of place with the specific platform-native content that flourishes and is rewarded here, which is highly skewed, insular, and controversial. So anybody who isn't interested in Elon's political thunderdome for highly online degenerates feels alienated in what used to be the town square, however mismanaged it was.