I certainly believe that's the case. In some ways, Trump saved Twitter. Their numbers improved greatly when he came along. Even ignoring the fact that banning Trump could be incredibly bad for Twitter in PR and regulatory aspects, kicking him off would cause a significant hit to key metrics.
Another is the single model of discussion: tweets and replies in a single global space. There's no way for individuals or groups to create other contexts, so anybody attempting to have a sophisticated discussion needs to be prepared for 101-level people blundering in, reading a single tweet, and reacting ignorantly to it.
A third is its inability to handle longer blocks of text. The tweetstorm is as close as they come. It's a medium I enjoy, but it's not good for everything. In the same way one attaches images, one should be able to attach longer blocks of text, and perhaps richer things, like HTML. That would take it from being a micropublishing platform to an actual publishing platform.
They could also do massively better in terms of abuse prevention and conversation quality. I'd love to be able to pay for verification, so that they'd check my claimed identity and mark me as me. For anonymous accounts, I'd like ways for serious organizations to vouch for them. E.g., a human rights org should be able to say, "Yes, this is actually a person on the ground in Country X," so we can start telling real people from propaganda sock puppets.
Twitter wasn't intended for anything. It was an experiment that caught on. Almost everything that distinguishes Twitter today (retweets, likes, replies, posting links, even the at symbol) were all things users invented. Twitter just observed what people were doing and added support. Most of what I'm talking about is in that exact same tradition.