Exactly. The way I see it, Twitter was a zombie company for quite a few years. Not sustainable the way it was. Lots of bots, obnoxious people, scammers, spammers, etc. and not a whole lot of positive stuff happening from a business point of view. Bloated big silicon valley company long out of ideas on how to fix things. Hiring more people and trying to be woke clearly wasn't helping.
The notion that this could just have gone on as is was never a plan. Musk is applying shock therapy to maybe nudge it in the direction of resembling a healthy company again. Maybe he'll kill the company. Maybe it will work. But this is better than the failed social experiment it had turned into. The API of course had some valid uses but it was also the tool of choice for bots, advertisers, marketing bureaus, etc. The message is very clear for those: you are welcome to stay but expect to pay for the privilege. I think this probably gets rid of a lot of crap.