TL; DR: Absent an alternative solution that he's yet to announce, Elon's move makes it more difficult for high-profile/high-value targets to secure their accounts. Elon's latest attempt to squeeze money out of Twitter users will end in a very predictable way: one or more high-profile accounts will get hacked. Let's hope that it won't be anyone whose life is endangered as a result (e.g. political exile, outspoken dissident).
If you value your privacy, you should *not* be using Twitter. Full stop