Pretty much. Musk is far from a free speech absolutist as he proclaimed himself to be. I would go further and say he’s substantially worse, unpredictable and inconsistent in free speech matters.
Old Twitter would hardly be a true paragon of free expression, but they were at least relatively transparent. Good luck getting any answers from new Xitter or any consistency.
The whole Fediverse is still a little on the niche side, but if growth continues, I think this is exactly another development. When you work for Company X, your work email is usually somebody@companyx.com, likewise I would expect official Fediverse presences.
Where it will probably take off though is when somebody starts selling corporations a turn-key solution. Kind of how products like Outlook took over corporate email.