Good quote, but there are bigger implications to it
One of the main justification floated to keep Twitter going is the (bad IMO) argument that too many government and private sector organizations rely on it for public communications.
The Twitter lawyers have burned that argument to the ground. Twitter, as they see it, was not and will never be a source for timely and credible information. As such, law enforcement, emergency services, and government have no buisness using it for those purposes, and have no justification to prop it up.
Twitter spend millions of VC money building up the idea that it was a credible replacement for self publishing alerts and press releases, and was a replacement for things like mail lists and text messages for public interest and public safety announcements.
This despite the fact that it was a private company, and could delete, alter, or amplify any tweet, at the time or after the fact, with no recourse. It also aggressively pushed against any other entity archiving or backing up content, and demanded that instead of posting direct quotes or screen shots that people should only live link back to the Twitter site.
While, better hope that the Internet Archive backed it up anyway, as the whole record of Twitter may have the pug pulled all the way back to the original Tweet.
Why anyone though this a good idea, or would turn out differently is beyond me, but by social site standards they had a good run, and their VC's got paid, so Dorsey will still get work I guess. The VC's were griping about CEO's with a Willie Wonka complex being a problem more than a decade ago, but they keep picking them to lead the companies they back. Seems like they need to take their own advice.