> But more importantly, X has not released any substantially new features within the last 3 years.

Just on top of my head, there's the ability to write longer texts, the AI integration (that seems fairly popular in there). There was also some revenue sharing scheme where accounts can get paid for engagement. And from the point of view of management, making it impossible to view threads without login would also be a feature (as in "something we have to deliberately implement").

It's not a lot, but I don't think the pre-Musk Twitter changed even that much in the 3 year period before the acquisition.