If Twitter went full 4chan it would implode. There's no way Twitter, Facebook, Instagram, or even Reddit would have gotten to the size they have if they were curated in favor of trolls.
When subgroups of trolls have gotten booted from larger communities and tried to start their own social media enclaves, they've never gotten to a truly large scale because most people don't want to be part of that kind of community.
My point is people are okay with sites self governing till self government evolves into the loudspeaker for the other side and then they want regulation.
A better way, in my view would be for twitter to allow people to subscribe to groups and those groups have their own moderation. Obviously some things would be subject to regular laws like immediate threats of violence, doxxing, etc.