Because the tech he makes is inherently terrible and despite being used in a positive way it is still centralized and ripe for misuse by people like Musk. On top of that the long term feasibility is based on advertising potential to get the funding.

He says positive stuff most of the time but his actions are the opposite. Blusky is supposed to be decentralized, but the structure as it exists requires it to actually be centralized when implemented. Plus his most recent 'secure' thing wasn't even tested for security issues because he is a hype man who constantly lies.

Figure head syndrome. Literally a man with money, otherwise completely unremarkable