It was either that or let Musk get away with stock market manipulation. Hard to tell which is worse at this point but I personally think him losing billions of dollars of investor money will hopefully cause then to think twice about giving him money in the future. That is, if Trump loses in 2024.
I have a growing suspicion that the goal was to intentionally delegitimize Twitter to the extent that one of the major social networks becomes an unmitigated misinformation factory - moreso than it was before. That seems like something billionaire investors might be willing to dump some serious cash into.