A Twitter employee wrote into Ask A Manager. I'm so glad I don't work there.
https://www.askamanager.org/2022/12/update-i-work-at-twitter-what-do-i-do.html
That was an excellent read. I suspect EM wants to turn Twitter into an unregulated, unmanged thing like the blockchain, and his vision is for the machine itself to do all the minimal work necessary without much human guidance - like a Tesla factory. That minimal work does not include moderation, account verification, or any censorship because Musk is wagering that Twitter's advertisers will continue selling ads on the platform regardless of how much it starts to resemble Telegram or 8-chan.
A Twitter with a skeleton crew and no extra fluff might be more profitable than a moderated/verified Twitter, even if usage drops. Like MySpace and Facebook, it'll carry years of inertia from brand recognition and lazy journalism.
However, this might not go on forever. Musk will soon find himself in Jack Dorsey's seat answering questions from members of Congress about why exactly the United States should maintain a special liability carve-out in section 230 of the Communications Decency Act just so billionaire-owned social media megacorps like Meta and Twitter can profit from the manufacture of violent extremists and the spread of racism, misogyny, and deadly misinformation.
With FB, Reddit, the chans, YouTube, and now Twitter all becoming predominantly right-wing platforms, and with TikTok posing national security threats, it's not hard to imagine the Democratic Party soon adopting an anti-section-230 stance, even though doing so would direct a LOT of money and ads against them. The E.U. is likely to become even more skeptical, and increase their moderation requirements further. This could be the defining fight of the 2020's - with conservatives seeing any accountability for social media megacorps as a violation of the first amendment and liberals seeing the control of billionaire-owned addictive platforms as a necessity for democracy to endure.