I don’t think we can say for sure whether it’s doing worse businesswise since the numbers aren’t public. But consider e.g. https://www.adweek.com/media/advertisers-returning-to-x/

“From January to September 2024, marketing intelligence platform MediaRadar found that (X’s former top advertisers including Comcast, IBM, Disney, Warner Bros. Discovery, and Lionsgate Entertainment) collectively spent less than $3.3 million on X. This is a 98% year-over-year drop from the $170 million spent during the same period in 2023.”