I've made the mistake at one company of thinking that my job was to architect solid software that was sustainable for the long term.
What they really wanted was to have software that was "good enough" and had all of the checkbox features to be attractive to potential acquirers so the investors would stop breathing down their necks.
Jack Dorsey became a billionaire from those losses. The same is true for probably all other early investors. For an investment in Twitter to have done really badly, there was a "bear" period of about 2 years.
And before you say it, remember that even Google stock dropped 60%, Facebook's 70%. Twitter's drop actually looks pretty reasonable in comparison.
So firstly, I don't think twitter is bad, and secondly, I don't think people have given up on twitter, and thirdly, that seems pretty justified.
Wouldn't you ?
As an employee who has a job because the company exists? Yes
As a retail investor - I wouldn't be quite as happy.
Contrast that to the small staff that Instagram had before getting acquired. It's still run on a relatively small staff now.