Traffic going up doesn't directly correlate with revenue — it depends on ad sales to be anything other than a cost and by all accounts advertisers have been hesitant to stick with the company. There's a reason why Gab, Parler, Truth Social, etc. struggled and unless Musk can convince mainstream advertisers that people are not going to see their ads next to extremist content those revenues are going to decline.
I would also be very skeptical about numbers without much detail because we know that bot activity has gone up since the teams which dealt with it were decimated and there have already been news reports about e.g. China taking advantage of this to drown out unfavorable stories.
It's a megaphone heard by a quarter billion people.
It has double-digit market reach in many countries.
It can probably swing any election by five points or more. Ask yourself what that is worth.
$44 billion is nothing. Twitter could unhinge a nation and destroy any individual or elected official. Twitter is real power. Real power cannot be measured in dollars.
So you need another Elon to overspend substantially.
Sure you can price it, but finding a buyer is a seperate issue.
The Musk hype factor is real.