The problem is that when people bend the truth or apply their efforts to conform to a pre determined narrative, it undermines debate and reality. Reality is the answer to every question, that is, if we in the West want to thrive and survive in the new global world.
I've always watched spy documentaries and war documentaries in my lifetime, learned a great deal about how diabolical some can be, many treasonous, self serving people. Of late I have been revisiting the dire, evil efforts of people like Goebbels. They convinced people to believe what wasn't fact. No goading necessarily but simply controlling the narrative without questioning.
This was done when Twitter silenced dissent be it during covid or Russia, Russia etc. Ditto for other social media. Did this serve the public?
Musk is right when he cursed the advertisers who threatened to pull their funding and hurt Twitter as he said to these advertisers "let's see how earth responds to that (boycott which destroys the company)". It is a broad statement that basically suggests that they will be hurting the very principles that allowed their corporations to thrive. For society to remain free and prosperous.
In the end the more people see their reality diverting from media-driven "news", the less traditional media will be trusted, the more people will in turn boycott these companies and/or support those who have their best interest at heart. Furthermore, it will drive a more contrarian social media industry as people will desire facts, even if inconvenient; over more comfortable deceit that makes them feel good but does nothing for their plight.