There no way in hell that this 80% of workforce was actual bloat.
But Twitter is not a software and servers company -- it's a media company. It has more in common with Hulu than Microsoft. The ability to post 240 chars of content is not a business. The users aren't the customers. As you say, the Twitter platform is not ground breaking tech -- that was never where the value was.
> Teams dedicated to curating content like twitter headlines and moderating content don't need to be there
This is where I think you and Elon are wrong. The "content" is the product and the advertisers are the customers. The assumption is that that these teams are not helping bring in advertisers but you and I don't know that. Elon didn't even care to find out because he fundamentally misunderstands the business he's in.
If your advertisers go away, then a whole lot of the iceberg of complexity underneath the bird app goes away.