My guess is that Musk is trying to make an "X" lemonade out of the lemon of an app he bought in Twitter, with the caveat that Twitter is a lemon at $44 billion.
If Musk had paid $22 billion,, I'd guess he'd just be tweaking Twitter to get it profitable while looking at a much less aggressive strategy longer term.
The world has too many monopolies. I look for products outside Amazon before I buy there. I use multiple chat apps. I don't use Twitter basically except to retweet, as it is just an elite echo chamber anyway. Long story short I have no interest in a super-app, and would actively try not to use X if Twitter does become X.