Rationality of him trying to buy Twitter is up to debate. I'm talking about deciding what to do when you promise to buy at a high price, and tech stocks crash afterwards. Given that, what he's doing now (trying to pull out) seems rational to me.
Let’s also not forget the core of the matter: this is a class issue through and through. One of the most wealthy and powerful people on earth — propelled by government subsidies and contracts for his companies Tesla, SpaceX, etc. — is only able to do what he’s doing, and flaunt his contempt only because he is rich and powerful. Very few people would be able to do what he’s done and run away with it: calling somebody a pedophile with no cause, essentially claiming victory over his battle with an ineffectual SEC over his misbehavior, getting into a contract with Twitter with a populist energy and dominant conservative support only to (no surprise) cancel it last second etc.
This is an issue of wealthy people evading the rules everyone else has to play by under threat of violence (lawsuits, prison, etc.)
The amount of effort his cultists put to defending him and arguing that this is some brilliant play is beyond ridiculous.