I actually kind of like hearing about his ongoing effort to waste billions of dollars and destroy his own platform, but the community is definitely misnamed. It contributes more Musk-related content than the rest of Lemmy put together.
My understanding is that it was created in response to a ton of Musk spam which was primarily positive, when he was first emerging as a popular figure. People got fed up with hearing about him, and started Enough Musk Spam to point out how absolutely terrible he actually is.
Nowadays, there's much less positive Musk news, so it feels more like a misnomer. But it was started as an attempt to highlight how bad he is. Seems to have worked a bit, tbh.