It depends on what you mean by "working".

The lights are still on, but the business keeps doing worse and worse.

https://www.businessofapps.com/data/twitter-statistics/

Lowering the quality of the product. Keeping a server up with messages is actually the easy part.

Moderation, QA, legal compliance, partnerships, reputation, advertising, marketing are hard. Userbase grows, revenue falls.

It's been turned from a functioning enterprise to the voice of power, that Musk uses as a loss leader to market himself, and it works. He uses Tesla and SpaceX money to fund it.

Every sponsor is leaving Twitter, but yes, without what makes a social media respectable, it costs less to stay up. Jack Dorsey didn't have government contracts in his other companies to keep up with losses.

It takes work and courage to keep democracy, and just money and weapons to get power.

> what were they working on ??

Moderation?

Most of the naysaying was simply ideological from people who hate Musk and convinced themselves he's stupid on top of his other perceived faults, not based on any kind of analysis of twitter as a company.