Context: Twitter is currently rebranding it self as X.com, which is the bottom logo. X.org is a FOSS implementation of the The X Window System which is being slowly replaced by the newer Wayland display server. Because of the Twitter rebrand Someone decided to make Wayland.social, to parody the X.org to Wayland transition.
I thought x.com became paypal
It was taken over by PayPal, yeah. PayPal was the better processor and didn’t want competition