We've already discussed this in the thread before, so I'll just link back to a relevant post that explains it well:
I think Trump is smart enough to know the damage that repealing Section 230 would actually cause, but he entertains that as a possibility to get the social media giants to the negotiating table. Trump wants them to abide by the existing rules, and he intends on scaring them straight. It's why Zuckerberg was going on about how social media shouldn't be the arbiter of truth just a few days prior to the Twitter kerfuffle; he can see where the winds are blowing and doesn't want to be caught with his pants down. Jack Dorsey, meanwhile, is an idiot who keeps tilting at windmills because he thinks he's some great crusader.
It's a win-win either way for me. Either Twitter shapes up and stops censoring conservative accounts, or they go down in flames and nothing of value is lost. Same for all social media, honestly. The worst invention of the 21st century, in my opinion.