The fact Netflix/Disney/Hulu/Amazon/Apple make as much as they do is crazy compared to how much people use Twitter for free.
Advertising models are absolute dogshit that never really worked. People will pay for access if you improve the experience - like no ads from the get go.
In my experience, advertising isn't worth it if you aren't a large corp. with access to debt and require a presence and even then it's mostly a loss leader.
Destroy that and there is no value to Twitter. Alternatives will grow & flourish & the chapter of greatness & success will close.
I don't see how you defend such a small view, of limitation & constraint & denial.
I think you seriously overestimate how easily people change. Likely, because you aren't afraid of it. Most are and would pay to keep from having to do it; especially if you incentivize it with an improved experience.
I'd agree people will switch to free platforms if too many changes take place at once as it would basically be the same thing as finding something new. I.E. Payments + Verification + Everything X whatever app crap. etc.