I am actually quite optimistic. Let the best ideas win. The blue check elitism is coming to an end.
Those who are saying this place is turning into 4chan are not saying it in a good faith, it is just ideological opposition of ideas they don't like. Twitter will be very different than 4chan.
No one cares about blue checks
Why does it exist in the first place if "no one cares about it?"
Lots of features exist that no one cares about. You seem to be implying UX folks always get it right.
Long time but casual Twitter user here. I've never paid attention to the blue check. Anecdotal, but yeah.
I do get your point though: it's quite probable that some users are very interested in the feature even if some or many average users ignore it.