I doubt Musk has the patience for building or owning a graph based technology business. The complexities of Twitter’s architecture are not trivial and a huge reason it’s not been successfully disrupted.
The other big reason is balancing the greater good vs unrestricted access, which has taken years to accommodate.
Musk is just an ego-centric billionaire with a lot of money and an unproven belief that Twitter could be better with his proposed changes. I’d bet he’s thoroughly aware that those changes could destroy the platform.
I believe the offer is rejected and the other top ten shareholders (all hedge funds) buy up anything he dumps and the price remains stable.