Not just petty, but incredibly stupid. He bought one of the most recognizable brands on the planet. Everyone knows what a tweet is, a retweet, a quote tweet, hell, hashtags exploded in popularity because of Twitter. An entire community (re: customer base) self-organizing and inventing the concepts of your product for you, organically and for free - it's any business owner's wettest of wet dreams.
And then he threw that all down the drain because he couldn't recognize what was right in front of his face. Either that or he did recognize, but still wanted to relive some tech fantasy he cooked up twenty years ago and can't let go of. Either way, astronomically, gigantically, absolutely unfathomably stupid.