Where Musk is going, there are no maps. So it's very very hard to project. But we can predict likely developments.
At a very high level, it's going to involve: bringing back controversial personalities like Donald Trump; increasing Twitter's commitment to 'free speech'; assuaging skittish advertisers; retaining users who might be concerned, while bringing in new ones; managing the exodus of users (size:?) that will happen regardless; cutting a large amount of staff, while keeping Twitter's lights on; open sourcing the code, discussing the impending rearchitecture; and - long term - folding this into Elon's vision of America's WeChat, and ultimately expanding Twitter, under X.com.
That's a lot. But at a high level, I think that's correct.
I would expect Elon to take the fight to the media. Whether he's going to focus on neutrally spreading a message, going more on the attack on media outlets that would support him, or doing something in between, is unknown.
Musk has an unusually large amount of media power: that's his unique value add, in a way. I would expect this to be a 'bigger deal' as a story, as multiple stories, than I would for any other company undergoing a takeover. We'll be hearing a lot more about Twitter in the weeks to come, since the developments will keep piling up, and the press/public loves to read & discuss stories about Twitter & Musk.
We'll see how it goes.