None of that has to do with blocking the content behind a login wall. X can still serve ads just fine to non-logged in users. I'm against the site running ads, at all, I'm against mandatory account creation. The internet ran ad supported without mandatory accounts for years.
The login wall provides one more avenue for profit: selling the data of logged-in users. A profile with a history of likes, read-times, etc is more valuable then a pair of eyeballs that are glazed-over and not clicking on an ad...
True, and Britain ruled the waves with wooden warships for a long time. But if they went back to wooden warships they would not rule the waves. The world has changed. Adblock, archive.is, third party mirrors all exist today.
You can rest assured, 100%, that account walls are also there for money.
I'd be tickled if you argue that corporations create friction for any other reason than money.