"In past texts and emails, Musk has described his goal for a “blockchain social media system that does both payments and short text messages/links like Twitter.” Users would have to pay to register a message on the blockchain. This would also include a massive database for all messages sent to the blockchain, and a 'Twitter-like app' to access that cloud-based database." (from related article:
https://gizmodo.com/twitter-x-elon-musk-wechat-everything-ap...)
So it's the 'en-shitification' of Twitter:
Twitter + blockchain + payments = X
where X is pay to use X and Elon makes tons of money from X.