After Musk took over, not only he removed the moderation team, he also introduced many policies that encourages extreme content (well actually, it encourages encouragements, but extreme content draws the most encouragements, which is a well-know phenomenon). For example the blue checkmark for sell and encouragement based revenue sharing.
Current problem that Twitter suffering is the result of those policies from Elon Musk himself. A YouTuber John Harris suspected that Musk is doing this to mock something (see https://www.youtube.com/watch?v=WYQxG4KEzvo), but I think it's just incompetent/lack of understanding, a bullied child turned an asshole, it often happens.