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Please no.
The best part of TTRPGs is WOTC already fired the shot over the bow with its licensing scandal. So all the third party creators have scrubbed WOTC specific stuff from their materials and are now working on system agnostic adventures that can run in Pathfinder, D&D, 13th Age, or Tales of the Valiant.
And at the end of the day, even if he buys every single company, you don't have to keep buying the products. Telling a story with dice at a table is free, except for the cost of a pen, paper, and a dice set.
Yup. Hasbro-WotC has already dragged their name in the mud, and they're really busy digging their own grave with the recent push for digital-first/virtual-tabletops-first stuff and micro(macro)transactions. Meanwhile, they forgot that tabletop RPG rules have always been flexible and homebrewy (and the old OGL reflected that ethos perfectly), and you can't hyper-monetise them the same way as video games.
They're making the same mistakes TSR did. (Those who forget history are doomed to repeat it, yadda yadda yadda.) Except in TSR's case, they got bought by WotC who pulled an extremely community-supportive, business-ecosystem-building move by introducing OGL. Even if Elon bought out WotC I doubt he is actually going to be interested in fixing whatever's actually ailing them right now, dude's too busy fighting woke demons than actually doing sound business/pro-community moves.
I have no doubt he would do something absolutely idiotic with it. Like making gender roles part of the game documents.
Oh he’s absolutely the type to make the rules give female characters -STR (possibly -INT), and +CHA (possibly +DEX) and inverse for male characters. As well as all sorts of dewokification
These were my first thoughts. Also, if anyone could put the nail in a dying brand's coffin, it is certainly elon. "Oh, failing company, I'll buy it and accelerate it's demise!". The second he buys it, the majority of DND players will pull the trigger on going to any other game, as most almost did with the scandal, and then MAGAs will pour into "this new game that Elon invented that makes libs mad".
Yup I know for me I'd probably keep my home game in D&D for simplicity, but I'd stop going to Adventure League cold turkey. And where I live, I'm pretty sure it would actually just turn into a second Pathfinder night at the game store. Thinking about it, game stores would love it, so many core book sales.