First, a massive amount of content is removed. You won’t find a lot of popular, unencrypted content these days on usenet. It’s all encrypted and obfuscated now to avoid the bots
Speaking of bots, I don’t think you realize how much of this process is automated, or how wide of a net is being used. The media corporations all have enormous collected libraries of material. It gets posted constantly to all sorts of places. This includes public torrents, public usenet, YouTube, PornHub (yes, really, even for non-porn), Facebook, TikTok, Tumblr, GNUtella, DDL sites…
The list goes on and on. Each one gets scanned for millions of potentially infringing items, often daily. No actual people are doing those steps.
Now, throw in things like private torrents, encrypted usenet posts, invite-only DDL, listings that use ‘3’ instead ‘e’ or those other character subscriptions… These require actual humans to process. Humans that cost money, and a considerable amount of it. As a business, you have to show a return on investment. Fighting piracy, even at its theoretical best, doesn’t increase revenues by a lot.
You mention revenue and breaking even, but you left out an important detail. Your time is free. They don’t have to pay $10/month, they have to pay $10/month + $20/hour for someone to deal with it. And most pirates of that level will just find another method.
It would be interesting to see how that plays out in court. That clip shows that the CEO himself is aware of the concerns, and refuses to address them. It also implicitly acknowledges that the reasoning was because of those issues, and not a conspiracy to harm ex-Twitter.