Verified Twitter accounts have never been officially endorsed or given special promotions but criticism from many Twitter users shows that popular opinion can sometimes outweigh the truth. Following intense backlash regarding the verification of white supremacist users and users with extreme political views, verification of accounts has temporarily been suspended until further notice.
Verification was meant to authenticate identity & voice but it is interpreted as an endorsement or an indicator of importance. We recognize that we have created this confusion and need to resolve it. We have paused all general verifications while we work and will report back soon— Twitter Support (@TwitterSupport) November 9, 2017
Despite the fact that Twitter very clearly states verified accounts are not endorsed, having a check mark next to a name does connote some form of legitimacy. Twitter does seem to have mixed views on the matter itself considering that some controversial public figures have been denied verification and others have had verification revoked as a punishment.
If being verified is not meant to enhance a user's legitimacy and help expand their audience, it seems strange that verification is not given to all well-known people regardless of how controversial they may be. Twitter's official stance is that verification is meant to prevent impersonation of users in government, fashion, music, politics, religion, acting, sports, media or other areas of interest.
Although verified users are not meant to be given promotion or extra attention from Twitter, public opinion clearly does not see it that way. Adding a badge to a profile does differentiate a user and can be viewed as giving more credibility to an account simply because it has gone through a review process. While the content of verified accounts is not guaranteed to be better or any more accurate than standard accounts, a simple icon can greatly skew how content is received.