better question is whether or not Twitter _should_ be turned around. it seems like at this point it's a second rate advertising platform that encourages abuse and degeneration of public discourse.
I think it should. It's such a useful tool for quick communication of real time events. It's hard to imagine anything replacing it anytime soon and it does have a significant amount of users, even if it isn't growing much if at all.
You have fair points but I think there are redeeming qualities :)