I wouldn't say he was completely wrong. He was right about "Curiously, the fact that the founders of Twitter have been slow to monetize it may in the long run prove to be an advantage."

Twitter / X punches above its weight (in terms of regular metrics like MAUs and revenue) in terms of cultural impact. One can argue that it was responsible for delivering the 2024 election to Trump. This may have never happened if its original founders had tried to control and monetize it too soon.