First of all, how does it persuade you of that? The article touches a really small (though incredibly important for up-time) subject.
Secondly, in any large company, the majority is 'bloat'. It's security engineers, code reviews, data architecture, HR, internal audit teams, content moderators, ccrum masters and I can keep going. In a start-up many of these roles can be ignored, becaus growth > stability. In a large organization, part of the bloat helps insure a certain amount of stability that's necessary to keep an organization alive.
If a product is mature enough, like Twitter seems to be, removing engineers won't instantly crash the product. It'll happen slowly. Bugs will creep in, because less time is spent on review and over all architecture. Security issues will creep in because of about the same issues and less oversight. Then, once this causes enough issues for the product to actually crash, the right people to fix it quickly might not be there anymore. That's when fixing the issues suddenly takes a lot more time.
If the current state of affairs at Twitter keeps up, it'll probably be a slow descent into chaos. Especially with Elon pushing for new features to be implemented quickly, inevitably by people who cannot fully understand the implications of said features, because 80% of knowledge is missing.