Nah, Elon was clearly trying to pull a pump and dump. However the feds had been monitoring his propensity to buy a bunch of stock, announce buying a controlling amount, then sell the stock he had, when the line went up, due to his announcement. This time the SEC filed suit and he was forced to go through with the purchase, under the contract they had, because this time he crossed the line into federal prison behavior.

Once he had to spend 44 billion on it, he had to do something with it. He had no idea how twitter actually worked, how it really made its money, or why the moderation was the way it was. So he ran in like a bulldozer, fucking around the the corporate structure, in hopes the excitement of change would make line go back up, and he could sell without losing all 44 billion. This didn't work, he turned it into a shit show, and his narcissism drives him double down, and do things specifically because the public at large hates it, out of spite. However his C levels, and investor's board, are also forcing him to make the place profitable again, lest they make a large legal case against him.

So here we are.