I suspect what he is planning to do is create a two-tier service, somewhat like Spotify. One tier will be free and packed with ads; the second will be a premium "blue tick" paid-for service with fewer adds and extra functionality.
My suspicion is that he will probably create a filter system whereby you can view all of the twitter-verse, or just the blue tick universe. Over time, the blue tick universe will be the only one anyone pays any attention to, which will push free users to upgrade in order to be heard and seen. And when they do upgrade, they will no longer be anonymous.
This will then start to drain twitter of the poison while retaining the concept of free speech. People can say things, but they cannot do so anonymously, so they then take on liability for what they say. Plus, through charging mechanisms, twitter will know exactly who is paying for the account so there is a trace-back in terms of liability.
This has a number of other benefits. It will destroy bot-farms because no-one will pay attention to non-blueticks and it will be very expensive to pay for hundreds of premium subscriptions for bots. It will also force "blue tickers" to value the service in a different way and take more care over what they write. And it will force people to behave in a more civilised manner.
I also suspect he may introduce region locations to twitter accounts. Gone will be the days when huge twitter pile-ons occur through bots and anonymous sock puppet accounts in different sovereign territories.
The real question is why has he bought the damn thing in the first place? He knows damn well the user stats are horrifically inflated. Twitter states the number of UK users is over 19 million, which is frankly ridiculous. That would mean nearly half of all adults between 18 and 65 in the UK have a twitter account.
No, there's a longer game being played here. Dorsey is his friend too (and he's been bothered about abuse and misinformation on the platform for some time). And Musk has a Saudi partner on board.
I am wondering whether the idea is to create a kind of Bloomberg service for the political, social and cultural realm. Then, you see, you have the ability to sell real-time delivery packages, somewhat like buying a Bloomberg terminal. Twitter's contracted nature makes it perfect for this kind of thing.
But for this, what you need is pure information. So the first thing you need to do is get rid of the dross and the shit and the jokers. That's where the blue tick scheme comes into play.
Dorsey probably realised this was what needed to happen, but he couldn't push it that way with the people who were in place at twitter. And that's why Musk has bought it. He's the Gordon Gekko figure who is willing to take the hit for cleaning it all out.
It's interesting. I shall watch it all closely.