I hate Twitter as well. It is occupying a place that could very easily be occupied by much better products. It's primary purpose is to hold back innovation.
I'm sure some people prefer Twitter as it is and it is valid for them to do so. However, the existence of Twitter is still massively harmful in terms of opportunity cost.
I am not sure on your conclusions. I do not use Twitter (I have an account, only scammers and spammers follow me, I say nothing interesting on it) but if there could be much better products, they'd take the position of Twitter, wouldn't they?
Twitter's primary purpose is to allow shouting in the street, not to hold back innovation. How is Twitter's existence stopping you from innovating?
I'm sure some people prefer Twitter as it is and it is valid for them to do so. However, the existence of Twitter is still massively harmful in terms of opportunity cost.