Yes. Monetisation can happen via many routes. Through direct payments user to user, monetizing attention, offering “trust” features or custom algorithms for those that are subscribed, advertising, VPN usage via starlink etc.

If the goal is to make X the everything app, they need to identify everyone to open these possibilities. Monetisation is the excuse for identifying everyone. It will keep the lights on whilst building out the monopoly, but the data is the real valuable asset.