This seems like a win/win. If Elon takes over Twitter and fixes it, we get free speech there (plus, product innovation!). If Elon is rejected, battle lines clearly drawn and hopefully many alternative platforms (innovating on product as well as terms of service; enjoy tankie-twitter!). This is like the great unbundling of Craigslist, probably created 100x consumer surplus over a decade.
At worst it's amusing to see all of the hysteria it generates from the people use see 'free speech' as a slur. Although these Twitter people seem to get off on FUD and hysteria.
People mocking the very concept of free speech by saying "freeze peach" during The Fattening of reddit in 2015 was one of the most appalling things I've ever seen.