>I guess this is their admission that you cannot monetize engagement if your community is highly toxic and mostly just produces shitstorms, lynchmobs, perpetually enraged morally superior idiots and professional victims.

That's most "engagement" on the internet, lol. Twitter is bad but it's not like all the other social media platforms are that much better. It's just how some people behave socially (anonymous or not, it doesn't seem to matter), at least when they're not meaningfully focusing on some worthwhile goal or pursuit like most of us are here @ HN. And trying to stop it with heavy-handed authoritarian policies only makes it worse as people strive to abuse the policies themselves to troll and gain power over others.