It's both. There are still lots of people having interesting conversations on X, but the second anything gets even the smallest amount of reach your replies will be full of really crummy (and promoted) blue-check trolls interrupting and being angry. The site in general also makes my adrenaline spike in an unpleasant way if I use any of the public feeds for more than about thirty minutes, which seems to be the goal they're optimizing for. I'm happier just avoiding the place.