Meta (for better or worse - definitely for worse) definitely is one of the few entities with the engineering expertise to pull it off. As for driving Twitter employees to its competitors, that's definitely happened.

Last I heard, Twitter's engineering team now mostly consists of a skeleton crew, and the only reason they're likely there is because of the terms on their H1B Visas.

edit: Slightly misread the second point. Given the rounds of mass layoffs in tech companies, I am not sure Elon's Twitter has served as much as a warning as it should've.