Well they're running on STEEM and EOS so far and you can trade your Appics on steem engine and another EOS exchange. They still need their own way of making money. If they can build their own insta hybrid for these users to monetize and bring in advertisers I say go for it.

We've already seen steempshot try and fail and deegram has been taking ages to launch.

I don't use Instagram myself I think its a shit tool but others disagree. I'd rather give appics the benefit of the doubt and if they succeed my steem price goes up if they fail oh well we move on