Some people have a lot more influence than others, and the influential people are disproportionately on twitter.
Also politicians.
That is the whole problem though, isn't it? A few hundred random people on Twitter are often more than enough to manufacture a wave of articles across multiple news websites and newspapers.
Twitter isn't important, the problem is that influential entities think that Twitter is important (and representative).
Which makes it important..
It will be funny of the Blue Checkmarks have to form their own social media platform - or in incredibly irony - end up in one of the "right wing" platforms as a refuge of free speech.
See: Facebook's declining usage, and the rise of TikTok.
Social networks are all quite replaceable, there are no exceptions.
Twitter won in its micro blogging space (there were numerous competitors for a brief time, way back), however it has never been a stellar product. It can and will be replaced if Musk turns it into a disaster.