It’s likely more dire now, not less. From all accounts, the savings from staff cuts have been met with lost advertising revenue, Twitter Blue hasn’t made a dent, and they’ve got big interest payments to meet.
IMO Twitter Blue wasn't as much about making a load of money, as it was Musk sticking a stake in the ground and saying 'We are going to change things fast and experiment with things - and I don't want sacred cows'.
Again with the giant ifs.
No they won't, because there are an additional ~1.5 billion the company has to pay in interest, as a result of the takeover. Twitter has fluctuated around profitability the last few years, now they have an albatross in interest payments around their neck. The only way Musk can lead them to a "better track to profitability" is if he unlocks significantly more revenue. He's been going in the opposite direction so far.