It doesn’t explain why he would have wanted to destroy the company in the first place.

For that, you could turn to his old friend, Peter Thiel. Thiel tried and failed to start up businesses that competed directly against Twitter. Aside from Thiel, there are plenty of other people who likely resent Twitter - such as the Saudi prince who now owns a portion of it alongside Musk.

I think the goal is to bring Twitter down, then replace it with something else. Alternatively, they could turn Twitter into what they want it to be by further financing it and covering the debt, though that seems less and less likely as time goes on. However, by sending Twitter down the toilet they can experiment with the kind of things that future platforms might be able to do - anything Twitter gets reprimanded for will ultimately have no consequence if Twitter goes away, but anything Twitter gets away with can be fair game for new start ups.

I think you’re giving him too much credit, I think he’s just an overconfident dumbass that got himself into trouble and is trying to erase his mistake without ruining his reputation as a genius.

I agree he's an overconfident dumbass and got himself into this position, and I'm sure he desperately values his reputation - the one aspect of all this that I'm enjoying is how badly his reputation is getting ruined. I still worry about more sinister things happening over the long run that may shape the future of social platforms for the worse, though.