Something I've never understood about these pivots from successful, revenue generating products. Sure, some users will leave Instagram for Tiktok. But isn't it a different product? Wouldn't Meta have been better off creating a new product and integrating it with Instagram, rather than killing the golden goose? This kind of thing seems to happen really often.
I've not had a FB account for years, and didn't use it other than for messenger for years before that, but when I was on there, I felt that most of their growth came from 'copy what other sites are doing, extinguish the competition by doing this' strategy, as everyone is on facebook anyway. It's worked for them so far, just now it's a bigger shift to try to emulate TikTok rather than try to destroy local ads sites or small business site hosting.