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The idea that Elon is just a nice guy who will toss $44B if his money (and investor money) simply for unbanning people and provide free speech is unproven and naïve. What is worth watching is whether free speech can return a profit.
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I think what they fear the most is that they'll no longer have the promotion of some ideas and suppression of others. Loosing this unfair advantage in the marketplace of ideas will mean things will go back to being a fair playing field and they're very worried.
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No it’s also about hidden algorithms determine who and what gets amplified and who and what gets shut down. How often Twitter controls what is trending and important not off of actual user base but by individuals choosing what matters. Also Twitter makes their own headlines…