It seems to me like share-holder ownership is pretty incapable of dealing with the complexities of being such a global and influential platform. The plutocratic model of 1 share 1 vote and financialization of what is pretty much seen and used as a public service really gets in the way of turning the platform into something that could be truly useful for humanity.
I think we are very much due on a change of paradigm when it comes to these sort of services. What is it that twitter users want, what do governments want (many politicians use twitter as an official means of communication), what do workers of the platform want? All of these stakeholders should have a say in what is done with twitter.
To me, saying "the board is at fault" and thinking it could be better as a privately owned corporation is also missing the target. Of course, I think these tech billionaires think they can make better decisions for everyone and so to them it is obvious that a truly public form of ownership would be a mistake. It's the benevolent dictator story.
To finalise, it would be interesting to see an exploration on technologies that could help stake-ownership management so that we can have firms that are capable of making decisions that make people happier and societies a better place.