Meta is preparing to launch a Twitter competitor called Threads. Scheduled for release in the US on July 6, the application is an offshoot of Instagram – which has a much better brand than the somewhat toxic Facebook reputation these days. However, its deliberately pared-down focus on text could be a step-change for the social media landscape. Twitter’s continued meltdown has been widely covered in the technology press. Its fall from grace as the source for breaking news, for corporate outreach and customer interaction, and as a vital part of the online culture has been delicious to witness from the outside. Of course, this presumably leaves room for a new entrant. The latest Twitter decision to limit the number of…