From my understanding, Twitter is not a t-shirt printing shop, but a large business, industry, media, corporation and it will take years and many years before we can really judge what he did wrong and what he did right. I can use other industry giant as an example - Apple inc. There are two completely different companies with different approaches before and after Steve Jobs. Notice how people talk negatively about Tim Cook and his management, however, their products are still most demanded on the market.
Twitter is relatively smallest social media compared to others but the users think the information shared is more credible than other platforms especially when it came from verified accounts. But Elon introduced verification for everyone for a subscription fee that backfired instantly and lost the share value but as of now other social media is following what he did for example Instagram took the same path of providing verification for payment and also they launched very similar in the name called threads.
Let us put it this way, he has his own plans when he decided to acquire Twitter. We may not understand his motives, but definitely, he has his eyes when it comes to long-term plans for this social media channel because the money involved is huge. Do remember, he is a businessman, so we can't question his ability on this matter. Who are we to judge his decisions? He achieved something in this life that very few people can. So we don't need to be very pessimistic with his decisions.
If he bought Twitter from its former owner for such a huge amount of money, he must have done it with some important motive. When the social media Twitter was owned by the former owner, he appointed various officers or employees to his Twitter as per his wish, but since the owner has changed, new officers or employees may have been appointed based on his wishes and needs. If we thought that this was definitely a wrong move for Elon Musk considering that the new employee was hired on Twitter's current X platform, we'd be wrong. Elon Musk wasn't wrong in his decision and we certainly wouldn't look at his decision differently if he changed the name and changed various features after purchasing Twitter and more updates are coming.
As the new owner, he has all the privilege to do what he thinks is best for his company. Now, if people are against with him, then get out of the company and find a new job. Or better yet, buy or create your own. But we can't tell a person that he is doing something wrong with his company because we have no idea about his future plans and all the other things related to its developments.