Threads is text-based Instagram. But not even that as you can very well include photos. It has exactly the same shallow culture as Instagram: commercial, flat, vain.
Meta has openly expressed that it's disinterested or even hostile to news/journalism making their way to the platform (which comes with a lot of political flame-wars), instead to focus on making it a "fun" platform. Quite obviously because advertisers prefer networks without controversy.
Users may self-censor as on Threads the link to your real name is not very far away. Many users may have a real name Insta account linked up which in turn is linked to your Facebook account. Even if not visibility linked to your real name, internally you should assume it's there. So who knows what happens to all those accounts when you step over the line in Threads?
Hence, it's not Twitter which is defined by the culture war taking the main stage. Twitter is raw, edgy and toxic. It's also known for its real-time coverage of events, which Threads so far lacks. It also produces quite a lot of original content, whether they be memes or otherwise. You'll find none of that originating on Meta networks.
As Twitter seems on its way down, especially high follower users (such as journalists) are lost. There is no longer a "cultural network" where you push a message and get reach. None of the alternatives work for this purpose either.
I have no idea what will become of Twitter, but I do know to keep an open mind as we live in wild times. Just because Musk is a chaos monkey does not mean that it will not eventually rebound or even surpass old Twitter.