It's the hypocrisy that does it, not the fact that he runs the place as he sees fit.
To be clear I'm not a fan of what Elon is doing either (because he's doing the exact same thing Twitter did: posture as unbiased while obviously being biased), but I also recognize the only thing that's changed here is the direction of the bend.
As for the politics, if Elon is free to do as he pleases (which as far as I'm concerned he is as long as he drops the hypocrisy), so were the previous Twitter owners. You can't have it both ways.
So much for being an apolitical town square.
As for the 'the worst president in recent history' and that scandal: opinions differ. But it's clear where you stand.
Trump lost his reelection campaign...
If you have been following discussions here you know perfectly well that everyone agrees it's his right to lash out as arbitrarily as he wants. He can zap every journalist! Any politician that has ever irritated him! Comedians whose jokes fail to amuse him! He is perfectly entitled to do that and I have yet to see anyone saying saying he needs to be hauled in front of Congress or whatever.
IT's just amusing to laugh at the wholly predictable revelation that he's a giant hypocrite with the emotional continence of a 6 year old. While a lot of people considered him an asshole, he started the week as the richest man in the world. He looks to be ending it as a punchline.
Twitter belongs to Elon, so he can do whatever he wants with it. Other people can rightfully call him a hypocrite though.
Hopefully, Twitter's userbase will mostly vanish except for some far-right radicals that love him, and the company will implode, taking Elon's money with it. I'm not so sure, though. The general public usually seems to love being abused by big corporations, but not always.
But it could be the case that the side that uses "groomer" as a casual insult, surrounds drag shows armed with AR15s, propagated revenge porn of a political opponent's son, and follows a former President who's openly demanding the suspension of the US Constitution is actually just engaged in more TOS-violating behavior.
It could also not be the case, too, for what it's worth. But we don't know which is true given what's been revealed by the "leaks."
What we do know, for absolute certain, is that Musk's moderation behavior is nowhere remotely close to the free speech/public town square utopia that he pitched to the world. And hey, no one said it needed to be! Well, no one but he.
And I'm saying that as the former moderator of a 1M+ active accounts community.
Perhaps he concluded that he needs to destroy the public square in order to save it. Or that provoking sociocultural instability serves some grand strategic purpose, like Adrian Veidt in Watchmen (which looks more prescient by the day). It's also possible that he's having a psychotic break with or without the aid of very expensive drugs and that other than his brother nobody is in a position to tell the ubermensch with the giant balance sheet that he needs to several days of bed rest.