If the average number of recipients grows along with the number of users, then there's a problem, because average number of messages should be growing linearly with userbase, so the total hardware required is quadratic. No way that would work out economically...
Basically you end up with this equation
cost = ((NumOfUsers * avgMsgsRevceivedPerUser)/maxWritesPerCPU) * costOfCPU
There is nothing quadratic here. Your are able to scale linearly with the number of messages received in the system. There is a fixed cost per message received which is exactly what you want. By the way, this is exactly how the internet mail system works and it is why it is so scalable.
E-mail's actually a really great example. It worked great as long as it was used for person-to-person communication, which held both the number of messages/user and the number of recipients/message constant. Then spammers found out that the more people who had e-mail, the more they could send to at once, and sent recipients/message through the roof. In 1997/98, there were actually a number of articles about how the e-mail architecture was in serious trouble, and unless some way could be found to limit spam, it would collapse within a couple years. Of course, they dealt with it through spam filters and blacklists on the server, so now e-mail works fine.
Twitter's problem is that both Messages/User and Recipients/Message average significantly higher than e-mail, and yet the resources they have available are significantly lower than the full resources of the Internet. So even if they don't have an architectural scalability problem, they could very well have an economics problem.