Valid theory. Twitter was getting a lot of attention for their work to reduce the spread of misinformation and blatant racism. Both things that the republican party and their supporters seem to be firmly opposed to. It might therfore make sense to delegitimize the platform while giving a megaphone to the people who were previously being censored or fact checked.

I always say "follow the money" which is why I couldn't figure out Elon's motives in all this. It doesn't make sense to buy a company then intentionally tank it's value. But it might make sense in terms of people in power controlling another media outlet to broadcast and reinforce their narrative.