There was no update to Twitter of any kind, and Blue verification is paused with no product being delivered.

Most of the info you most likely got from incorrect sources and news outlets that repeat the same thing like parrots speculating what it may mean.

Twitter is not free speech, they didn't change their policy, and Musk himself assured that users will adhere to the laws and regulations of the government of which country they are part of.

So, independent journalists and freedom fighters in countries that are run by oppressive governments can get their accounts confiscated, their identities revealed, and they can end up even jailed and executed based on that statement.

He wants a single centralized entity powered by GOVERNMENTS, that endorses a government, and honor their rules, not people, privacy or free speech. Yesterday I made an analysis with shadowban bot, 10% of the first 200 Hive members from Nathan Mars Twitter list (containing in total 2000 users) are shadowbanned.

And the same bot is suspended from Twitter, so that we as users have no idea what is happening.

Throughout history, many have tried, in a different form to centralize something - power, influence, state, money. The only thing these megalomaniacs achieved is many, many either dead or enslaved people.

Personally, I don't have high hopes. A product I wanted to see integrated ( Revue blog/news platform) is by last reports scheduled for deletion and cryptocurrency integration is put to ice.
International Blue verification release is postponed basically indefinitely as the first domestic release will happen at 29th or later.
And it is not for rich and poor equally, it is only for the people who CAN pay and to whom is available. So, all the rest will be pushed into obscurity, either by lack of options or because of the shadowbanning.