The last year has significantly weakened Twitter's position. Musk paid $44B for a company that was almost immediately worth less; he has massively harmed it's image for further valuation reduction. The recent "must be logged in to view tweets" and "only X00 items available" combined with the increase in hate speech weakened it even further.

Further, Twitter has laid off 75% of the people who could help combat this push.

You are describing Twitter from 2-3 years ago. It is not is such a strong position now, and people are actively looking for something else that provides similar functionality. By bootstrapping from an existing social graph, it's a really strong possibility this is Twitter's death blow.