Your argument falls apart because when everyone in the room has a megaphone screaming at each other the signal to noise ratio drops so far that it's no longer worth being in the room.
You will have to mute or kickout some people from the room just to have any kind of coherent understanding of what's going on in there.
That's perfectly OK too: some rooms don't serve their purpose anymore and need to be disbanded and replaced with other sets of rooms.
But imo Twitter still has a very good signal to noise ration if you use it for keeping up with things (NOT for friendly networking, it was never intended for that) and/or disseminating content that you find harder to spread on other channels.