Thankfully, Threads is another exact microblogging alternative that is threatening Twitter, and if care is not taken and Musk doesn't apply wisdom, then the impact would be severe.
It's wrong to acknowledge thread as a treat to twitter because Elon limited daily views for Twitter users. That's the main reason Zuckerberg copied twitter and changed logo and name to thread. He didn't work for it, he stole another person's idea and intellectual property, it doesn't make sense. Most people will run back to twitter after a while of using thread. It'll just get the fame like truth social did when people started opting out of twitter because of the new update. It'll be hard for thread to beat twitter, not now.
I also don't think that Threads will ever be able to rival Twitter. Maybe the wave of curiosity of people who want to try Threads at this time is quite a lot. But yeah this won't last long. Because when people have finished trying, they will definitely leave. unless they find comfort in using those Threads. Because I personally also just want to try Threads to satisfy my curiosity. But if the Threads platform offers usability that Twitter doesn't then maybe Threads can compete with Twitter. but if there is no significant difference then it will not be too strong to compete with Twitter which already has a lot of users.