From an interview with Kevin Systrom, when asked about Threads, he mentions he can see both a bear case and a bull case:
The bear case: It’s more or less what exists elsewhere, and there’s not much differentiated value. While you can get lots of attention very quickly for competing with Elon Musk, that attention turns into real judgment when it either provides value or doesn’t provide value for users.
The bull case: Elon might start charging everyone a small fee to use his platform. Social media apps don’t last forever. They have their cycles, and invariably people want freshness. They want something new.The Messenger
Kevin, as you will know, was the co-founder of Instagram, and is now working on Artifact (a news sharing app, that is progressing towards a social network), which has just released an update featuring Links. I’ve used the app on and off, and kinda like it, but don’t feel it has any stickiness… yet.