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Thirty something here. The stories aren't spam since they don't trigger notifications and you have to intentionally click on them to watch. When i'm not feeling social I ignore snapchat, when i am, i know i can check in and see what my friends are doing.
I'm still lost. Maybe I just have radically different friends than everyone else here, but if I really have some pressing need to know what they're doing on a given day, I just ask them. Nobody cares about the day-to-day minutia, and if it was interesting, stuff like FB or regular messages work just fine. Like most social media apps, this just feels like a solution in search of a problem (except for sexting).
Snapchat's core is still revolving around soft erotic eye candy that's developed into a cottage industry at this point http://www.bloomberg.com/features/2016-arsenictv-snapchat-in... Now that they've got your attention there, they are bringing in media partners like BuzzFeed, Entertainment Weekly and celebrities http://www.bloomberg.com/features/2016-how-snapchat-built-a-... to fill up your feed with a stream of bite-size updates.
Peer-to-peer ephemeral messaging is no longer emphasized in the app, they are building a media destination to divert eyeballs away from TV, YouTube, Vine, Facebook or Twitter, in that rough order. Referring to ephemeral social messaging at this point as akin to bringing up Yahoo! as a directory of web links.