This over-exploitation is a clear fulcrum for the failure of the platform and could undermine a future payday.

This is enshittification - pillage the brand for short-term gain, long-term loss, thinking that something is worth more dead than alive. Either Musk is trying to pillage the bluecheck system (he thinks its' worthless and wants to extract some value before he kills it), or Twitter itself (get some short-term revenue from blue-check-chuds so he can make the site look slightly more profitable so he can sell it off).