Threads is the new platform by instagram. A direct competitor of Twitter. That being said it is not ready for use if you ask me. Current score on android store is 3.3 stars.
It is a good app from what I can see but it has a few problems like algorithm not letting you see your following list. Stuff like that. It does have other advantages over twitter. But it just got released a few days ago. I am watching the app like a hawk to see when the next update hits the paltform and waiting for the main problems people complain about to be fixed.
I will still use twitter since it doesn't hurt me in any way. But I want threads to suceed to also create a new account.
Another down side of threads is that you need an instagram account and you can't delete your account without deleting your instagram account. (Doesn't bother me tbh but it is one of the main complaints of the platform besides having no website and being 100% an app for now).