Of course for many things, microblogging is too short so I would use NNTP instead (which I already have set up). But many things are short and are not worth making many NNTP messages just for that, so twtxt may be helpful.
Of course this doesn't for folks in the twtxt community that just host a twtxt.txt file, but that's okay.
the software behind twtxt.net is quite flexible and configurable. An operator can choose to increase the MaxTwtlength limit by configuration.
For full blogs, long notices, full discussions, etc, I think NNTP is much better, so I would continue to use that. But for microblogging, NNTP seems rather excessive to me, so twtxt can be used for microblogging can be good; the format of twtxt is simple and is reasonable and look like good for making a timeline of short messages written by one person (that is what is microblogging anyways, isn't it?).