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I'd expect it to be cross-pollination from Instagram being tied to Threads

I suspect Meta just counts every Instagram user as a Threads user

Because they are regional specifics, twitter or X is only big in some countries like US and Japan. Threads is doing what twitter should have done but for the rest of the world who didn't jump onto twitter.

X was popular but never had that many users, not even back in the Twitter days. This is a big part of why Twitter was so easily acquired.