Although that initially sounds independent, I don’t see how that practically works.
Considering that the developers are employed by another company, and it seems that ownership remains with those employed by Twitter, although it is clear that the site will not be developed, it seems likely that development might be prevented by such an arrangement.
Unless the manager and moderators can be completely independent, and work with tech developers willing to potentially move the site forward regardless of compensation, then it is not simply that the site will remain what it is now – but it is clear that it will fall behind.
That is my concern. It’s an initial concern, and I don’t make any claim that it’s inevitable – but it seems valid.