If he is what you say he is, how does he manage to still have a Twitter account, with the high profile he has?

... because he's a useful idiot. Corporatists need him to stoke the flames of progressives, who they agitate infinitely to use for political momentum. He's not smart enough to not be a fuck-up. He's also ambitious for power, so he's easy to manipulate.

He doesn't have to be a fed. He's just a useful tool.

They would have kept "Milo Yiannopoulos is the leader of the Alt-Right" narrative if Milo was more useful, but he wasn't. He was too antagonistic. So he had to go, and they kept Spencer around instead