There's a tendency to believe that all shitty decisions made by corporations are to "make money" but I think we have seen numerous examples where their genius business decisions are not very genius at all. Zuckerberg has set tens of billions of dollars on fire in recent years, so I don't think we should conclude that every extra bit of enshittification of Instagram is smart.
It does seem like there are some opportunities to swoop in, to make a better Instagram, to make a better Facebook. The functionality of the latter is so bad that there's certainly an opportunity to make the basics actually work. And as much as we all criticize Facebook (deservedly), a site with basic party/group organizing invitation functionality, where local businesses can have a simple web presence, niche brands can make announcements, and where you can keep up with your friends and family is useful. They just made it shit!