Advertising spend is likely down in general. The interesting thing here is that big brands are pulling out entirely. I can assure you that Coca Cola is still advertising, but they’re not doing it on twitter anymore.
Maybe Elon doesn't want to sell sugar water but rather change the world?
I’m not sure that ruining a second-tier social network counts as changing the world. Well, I suppose making the world marginally more irritating is a change of sorts.