It makes one wonder why Elon Musk changed the name of Twitter to X. Is this based on his old company name or a new strategy by Elon Musk to overcome new social media Threads? And while it is true that Musk is a shrewd businessman, it is highly questionable how effective his tactics will be. People sold their shares in Twitter causing Twitter's value to drop significantly in the stock market. I think it will take a long time to recover because Threads are now a big obstacle for them
IMHO, that's part of what he's saying about his vision with Twitter as an all-app that includes everything. This is a rebranding that's happening and it doesn't look good for now.
But who knows if people are going to like it eventually with the additional features that they may add in the future. AFAIK, that's going to include more like integrated exchanges, digital bank, shopping feature, etc.