They all seem to have diminished audience, lessened influence, and resulted in less ad revenue. It's very clear that X has a far smaller burn rate than Twitter did, but it also seems to have lessened revenue, and it's really unclear that there's any profit at all.
It would be irksome if Musk went on lawsuit spree + PR campaign incessantly complaining that advertisers are 'killing free speech' by not advertising on the platform. Like some weird civic duty that publicly traded businesses with a fiduciary directive ought to have. But, let's be real, folks operating on Musk's level are too clever/business-savvy for anything that amateurish.