The fact that this most recent one targeted nearly the entire user base across nearly every interest group is probably Twitter's equivalent event of what happened to Digg and Myspace. There may be nothing he can do now to reverse a network collapse.
This should be a good thing, if the user base is able to migrant to open platforms. If they head back to Facebook and Instagram, then its a loss.
Elon might be getting margin called on Tesla right now, which could wipe him out financially. That would go a long way to explaining the poor decision making.