True, but for a platform business there has to be a correct recognition of the relevant time horizon. Amazon's profitability numbers in its first decade illustrate this.
Twitter makes decisions that people on the internet grumble about and make blog posts about and yes, even post on twitter about, but they still keep using twitter, which is all twitter cares about.
But they need to decide how they want to make their money and grow in parallel. Is it ads? Celebrities accounts? Is it selling API access?
If I'm Twitter CEO I would stick with "developer friendly" approach in order to re-start Twitter growth.
In short, my opinion is that companies needs to be nice with developers and cherish them all the way until the company is very very successful. I guess Twitter executives think that they made it and "developer friendly" stage is behind them.
Twitter and Facebook may be Big Corp today, but that wasn't always the case, and a lot of the initial growth that helped them get into the mainstream was due to hobbyists and independent devs that made cool little apps like EmojiTracker that would catch the attention of early adopters that then became the initial users of the platform.
The sad thing is that while Facebook became the generic one-size-fits-all "mom and dad" network (I can't even remember the last time I even used one of their 'apps' or whatever), Twitter really had the potential to evolve into something beyond that, if only it cultivated better relationships with their devs and encouraged people to build on and experiment with the platform.
Oh well. Lets keep an eye out for the next thing, I suppose!
Because Twitter doesn't "exist to make money" it also "exists to be Twitter." I'd prefer to never again hear that something "exists to make money", which is quite facile.
EDIT: there's a bit of a war between downvoters and upvoters on this comment. Let me break it down for you. The only way to agree that "twitter exists to make money" is by agreeing that the mission statement of every company on Earth should be, "Make money." Not much of a mission statement is it?