Pretty common in tech layoffs altogether. Been through several waves over the years and typically the CEO goes "we don't need this team, what do they do anyways?" before firing them and finding out exactly what that team did. I've always told coworkers to tell them hell no.
I really wish more online personalities would move to Mastodon, right now it's hard to justify when most of what I use Twitter for is to follow different online creators and such. And just none of them are moving over yet. It looks like Bluesky is where a lot of them are looking. It's also decentralized, but honestly I'm not a big fan of jumping on another Jack Dorsey project. I don't like ActivityPub as a tech myself and would be more interested in a holepunch kind of approach myself, but honestly it's the most mature decentralized tech there is right now and it seems like the world is moving that way. Just wish the world would move quicker!