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>But any new 3rd party twitter client is pretty much toast

Unless they take the time to go through the review process and get a rate limit increase, in which case this theoretically should improve the app quality overtime as only those willing to put in the work will make it through.

What a joke. The only thing that will improve app quality is evolution by natural selection. Shitty apps bleed users and bleed cash. Increasing friction lowers the number of new entrants and raises the cost of iteration ie the two things that increase the speed of evolution. The only viable apps will be incumbents, who are incentivised to not change anything and increase monetization ie ads and tracking.

Any old third-party Twitter client is pretty much toast unless Twitter deigns to lift the requirements for them. I'm not entirely sanguine they will.

This is per-user, not per-entire-app-user-base, AFAIK

No, this is per app.

RTA, "By default, an app (across all of its users) will be limited to: - Tweets & Retweets (combined): 300 per 3 hours - Likes: 1000 per 24 hours - Follows: 1000 per 24 hours - Direct Messages: 15,000 per 24 hours"