It's not just Russian propaganda anymore. It got adopted more widely in an effort to establish oligarchies in the West as well.
It's useful for the super-rich because staying on the path of democracy and regulation hurts their profits, and it's useful for Putin because it destabilizes Europe when European countries turn more isolated and separated with right-wing nationalist leaderships.
They probably reached their goal. It was never about efficiency. That was just the PR spin to sell it to the public. It was about getting rid of pesky regulatory bodies which stood in the way of making more money. Especially those who hindered Musk's companies.
The USA is currently experiencing the end phase of capitalism: massive corruption turning into open corruption with an economic oligarch class fusing with the government, massive income gaps and problems for regular citizens, class and culture wars plus reappearance of fascism to keep the population busy with culture wars among themselves instead of uniting against the exploiters, and so on. But it just started in USA. It's already swapping over to other western democratic countries as well.
You becoming a neo-nazi by constantly being served right-wing propaganda on company-controlled social media channels is better for their business than if you were a neutral, critical thinker. It's why Twitter was worth the 40 billion for Musk. Not because he expects it to ever repay itself. But because he can produce more loyalists by influencing what the algorithm shows and hides for you. Nazis are great for them because they're busy fighting against other parts of the population while giving the wealthy class a free pass to do what they want. Which is more money, more influence, more exploitation.
"current gov allows us to do anything so we don't care anymore because that's cheaper"