No, it's about a whole beehive of drama queens who thought Twitter is their domain, who saw their hated rich man prove them wrong by literally buying it from under them.
One enormous consequence of how social media globalization works is that the attention span of the whole world becomes centralised. We can only talk about one thing or a few things at a time. Those become the hyper focus of the whole internet. In every forum those topics seep in. Trying to resist "the current thing" becomes very exhausting. It's very hard to even talk about local issues when there are a few big issues that draws everyone's attention. I feel like this is one of the most dramatic changes for the last two decennia.
It's even worse on the Fediverse, which is flooded with both Mastodon- and Twitter-related discussion.
Mastodon has gotten a boost, potentially orders of magnitude, in recent weeks as people evaluate their utility with Twitter.
As a new fediverse explorer, it is fun in a way MySpace, Facebook, and Twitter were at first.