What brand value? I never hear anyone talking about Instagram in real life, ok, maybe in some twitter feeds. But they'll go move on to the next big thing if the next big thing gave them more of what they wanted. Instagram is probably a bigger brand name to hackers, and developers than it is to regular users.
I'm not sure if this reflects poorly on me, but I actually forgot what Instagram specifically did, and had to do a quick search to refresh my memory upon reading the news.
Mentally, I lump Instagram, Pinterest and other en-vogue social-ly apps together. Speaking of the latter, I would imagine they're probably rubbing their hands with glee right about now.