I think you're right, but you almost nailed it. Musk low-balled because he wants the offer to be rejected, so the stock price dips, so he can buy up enough stock at discount for a hostile takeover.
Is it brilliant, or is it standard operating procedure for stuff like this? I would assume most hostile takeovers follow some similar path and also try to manipulate the stock a bit in a way favorable to themselves with their actions prior to the actual final takeover attempt.
I think the brilliant part was where he got 1M+ responses to his polls about the problems with Twitter. The timing for that prior to rejecting the board seat was pre-meditated brilliancy.
