In the spirit of trying to be high-information and add value: Where Musk is going, there are no maps. So it's very very hard to project. But we can predict likely developments. At a very high level, it's going to involve: bringing back controversial personalities like Donald Trump; increasing Twitter's commitment to 'free speech'; assuaging skittish advertisers; retaining users who might be concerned, while bringing…
It sounds like Musk is going to tell advertisers to kick rocks and try to monetize the platform. Where are people gonna go if not on Twitter? The left isn't gonna have better luck with their own truth social or parler. The network effect is too big with Twitter. It's not fun if you're not dunking on your enemies. That's the fun of Twitter.
I think you may be over-estimating how much most people "need" something like Twitter. For the vast majority of users, a news feed and private messaging (WhatsApp, iMessage, etc.) are good enough.