Everything Musk has done is a desperate move to milk a little quick cash out of Twitter's most foolhardy users. But hey, they've got a huge user base, and if even 0.1% get on board it'll be a big win, if only short-term.
That said, I think Twitter honestly might be a little ahead of the curve. Seems like the advertising bubble is bursting and I think a lot of ad-supported corporate services are going to come to the same realization soon: that they have been running an unsustainable business for years and they need radical change.
Hopefully most of them will do it more gracefully than this. I just don't see Twitter being culturally relevant in the future. I think this is the biggest waste of social buy-in since Google sabotaged and squandered gchat.