I don't think anyone in this subthread is suggesting Twitter can't be replaced (some are actually just arguing that it's the only current way to get direct, first-hand information about current events). What are you adding to the conversation here?
What did we actually do before Twitter? There was a shooting at my university's library late at night a few years back and I only found out about it because of Twitter. I know about 50 people that were actually physically in the library at the time and a handful of them were live-tweeting. I not only knew what was going on, and that they were safe, I was warned not to go about 200m south at the moment (which happened to be the plan, the bar my SO and I were going to was on the opposite side of campus).
When I looked the next morning, there was one (1) article about it on a local website and nothing in national or regional media. Later that afternoon a ton of info came out and hit the media, but until then, there really wasn't anything. That showed me the power of Twitter (however stupid and cliche I sound saying that [look typing?]).
Just because something isn't necessary to survive as a human being, or to allow society to function properly, doesn't mean it shouldn't be fought for (again, not necessarily saying Twitter as a company, but the idea of a social network that allows for immediate sharing of ideas and news) or at the very least appreciated.
Do you not see the utility or are you just being a cynic?