This is just proverbial middle finger from Elon to the PayPal shareholders because he couldn’t get his way, now he is in a position where he can do this and no shareholder can criticise him for doing so.
The brand ‘X’ doesn’t have any meaning behind it. ‘M’ maybe so but that would be a stretch.
RPM’s review of this and Toto’s comments are going to send #TeamLH into the 4th dimension lol.