They go into this in the filing:

Under both the Prepetition TOS and the Current TOS, all right, title, and interest in and to X Corp.’s services, including X Corp.’s various websites, SMS, APIs, email notifications, applications, buttons, widgets, ads, commerce services, and other covered services (collectively, the “Services”) are X Corp.’s “exclusive property.” See Prepetition TOS § 4; Current TOS § 4. X Corp., as the owner of the Services, grants each user “a personal, worldwide, royalty-free, non-assignable and non- exclusive license to use the software provided” to use the Services. See Prepetition TOS § 4 (emphasis added); Current TOS § 4 (same). In contrast to the Services, the account holders own the Content (as defined in the TOS) they submit, post, or display on or through the Services; however, the Content is distinct and separate from the Services.

So I guess the account itself is something they’re saying is part of the Services X provides, while the stuff you post on the account is yours.