You mean because he fired a lot of people and the website is still up?

Revenue has been falling precipitously. I'm not sure anything has been demonstrated yet.

If I remember correctly, he reduced the content moderation team, which led to an increase in hate speech, misinformation and CSAM. That's why big advertisers left and revenues crashed.

He then told those big advertisers to piss off and refocused his advertising business on smaller customers, which is why he doesn't need so many ad sales people any more.

Perhaps he should hire some developers and data scientists to better automate content moderation.

Advertisers leaving is a combination of instability caused by Musk's impulsive decision-making, uninformed bandwagoning based on the perception projected by aforementioned MSM and parrots (AKA peer pressure), and the state of the economy combined with the above forcing them to reevaluate their investments. Advertisement revenue has been dropping everywhere as it turns out.

You may ot even be wrong about "peer pressure", but that's how so much of the rest of the world works. Part of the downturn isnt based on economic logic but peer pressure: "BigCo is sizing down so we should too!". The aforementioned brand perception is the exact same way, but based on the consumers over the company. The Stock market as a whole is literally based on speculation.

As long as stuff is run by peoople, people will influence other people to make decisions based more on gut feelings than raw facts.