Good for Eric. What kind of CEO trashes his own employees (and the product which he now owns) in public like this? It's a good thing Musk wants to reduce headcount because it's hard to imagine anyone taking an offer from Twitter at this point.
That's what increased compensation is for.
Except in this case, Elon has both pushed for cutting costs (negating the ability to pay increased compensation) and also pushed for a much worse work-life balance to the point that increased compensation may still result in worse $/hr than another tech job.
A: One that doesn't want to work there and is looking for attention on the way out.
There is only one way this would ever go. Would you, as the boss, keep such a person in your employ?