Anecdotally, it's reputation is also far worse than other social media companies. It's hard to go into the office, family gatherings, etc, without hearing people joke about how awful Twitter has become, whereas with other sites I usually only hear that sentiment from other long-time users deeper inside my own bubble.
I think it's gotten worse since Musk took over. But it hasn't moved in "the rankings" compared to other social networks. I wonder if Threads and Bluesky will eventually be as nasty as old Twitter of if they'll manage to foster better discussions somehow.
Both of those places seem to have gotten their initial swell of "actually using it" users from anti-Twitter/Musk people and pro-leftist/progressives. They also seem very militant about making sure that they are the gatekeepers/rulemakers of these new kingdoms.
For a while, everyone joked about Youtube saying "never read the comments section, man!" Or you only need to look at the comments section on any large media outlet (newspaper, tv, etc) article to see the same thing. Person + anonymity + audience, etc.
Twitter was like the comments section for the entire internet. So many people. So much trying to be funny or witty or provocative. Such expected results.
Not sure about BlueSky, though I may not be following active enough people there to notice any change in atmosphere.
It still wasn't "good", but it wasn't a privacy nightmare to the degree that Facebook was, and you could at least trust that things like blue checkmarks actually meant something.
Banning 'freespeech' here... allowing it there...
It was not bought to directly make money. It is still useful tool for people that invested in it.