Outside of “tech Twitter”, it’s just as stable as ever. Most people who use it to socialise weren’t impacted at all by the recent changes. I can guarantee you that even with the worst possible management it’ll still be orders of magnitude more stable than Mastodon or whatever FOSS solution comes along.
The problem with traditional, mainstream social media for normal people is ads, dark patterns, spam and the general adversarial environment where the platform is primarily there to serve the advertiser and not the user, thus the latter are treated like cattle. Those are the problems that an alternative solution needs to solve, while ideally not introducing its own.
Mastodon, by virtue of not having a business model (which would also be a massive problem should it gain large amounts of users and they stick around), avoids the ads and dark patterns, but introduces many problems of its own.
I’ve written my thoughts on Mastodon previously and they are just as valid nowadays: https://hn.algolia.com/?dateRange=all&page=0&prefix=true&que...
If you’re building a competitor to mainstream social media and call it Mastodon and the posts “toots” and refuse to see/acknowledge it even 6 years later, it’s dead on arrival and I’m not even talking about addressing the hard problems brought upon by decentralisation if you couldn’t even address that first.