I think people may be misunderstanding one of the main reasons why #Twitter was popular in the beginning and why it is losing that popularity now (a trend that started well before Elon took over).

Social media in the beginning was based on conversations between people. What made Twitter different was offering bite-sized thoughts and comments. It was interesting at the start, but over time it all became "look at me".

No conversation equals little to no interest. And that is why it is failing.