If I disambiguate from Musk running the show, this is not a bad idea. When I was working on payment gateways a good 10 years ago, it was stupidly hard to get live cards accepted for live testing. (Because of course the test API was different.) At some point all our test cards would be blocked based on the transaction volume.
I hope they're doing this to spin up a massive human call center, which would displace a lot of those jobs about to be replaced. It should be the only source of payment.