It's still too early to be close to featured enough imo. I get why zuck jumped at the chance, as he clearly read the room which is that 150 odd million want to move to a better version of xitter/the old version of twitter, the sign ups were incredible, however, until ease of life features are there, no one is going to make the move.
However either way I feel we do win, in that Elon either now can't be as crazy with his decisions while there is a legit possible competitor, where as before twitter was the only twitter like site from a serious company, now it's not, so Elon may think twice before adding a last second stupid change, and if he doesn't and pushes people away, great we also win as we have alternatives to go to now.
Really imo threads should have come out closer to Christmas time. But I'm not zuck. They took the chance, got a load of users, made the news, everyone knows of them (thats a big battle to already have over come) and time will tell what happens. Strangely I feel the success of threads lies more in Elon's hands.