It is a long-standing Texas marketing campaign. I've listened to them yammering on about everyone in California moving to Texas since the 90s, when I moved to California. I'm sure they were doing it before then.
So of course they shouted from the rooftops when Oracle moved to Texas, but became remarkably coy about Oracle then moving from Texas to Tennessee. The Space Nazi also quietly moved a ton of people out after moving them there from California.
If you're actually curious and wish to align your intuition with reality, look at real numbers. You'll find the "California drain" is real - more people have been moving from California to Texas than the reverse for a while now. But California has been growing at a rate as to make that not matter.
As far as their bullshit about taxes, Texas is indeed less tax-heavy on rich people, but taxes poor and middle class people significantly higher, like all southern states. And you might like the idea of their "not zoning" zoning. Unless you buy in Houston, Dallas and San Antonio, in which case I hope you can find flood insurance.
For my part, I'd encourage MAGAtypes to do their part to convince more California billionaires to move to Texas. We have too many, and they're almost all snotty, whiny, annoying little shits.