“Twitter as a company has always been my sole issue and my biggest regret. It has been owned by Wall Street and the ad model. Taking it back from Wall Street is the correct first step.”
Pre IPO Twitter was doing interesting things with API access and being more protocol like, but they killed all of that stuffed ads on it and went public. Ben Thompson talks a lot about how they're a terrible ad product and I think he's generally right. Subscriptions are a more interesting model.
If you read the texts between Jack and Elon that came out during the recent legal fights over the sale you can see these things for yourself.
That's somewhat of a rambling answer, but a lot of this stuff is publicly verifiable.