I will say, however that they've stepped up their ad insertion and display algorithm a bit recently, in a bad way, which is unfortunate. But I certainly see much less of the spammy ideological content that I do on Facebook and Twitter.
In other words, most of what I saw on Instagram was people trying to get followers and likes, trying to be like some "adventure photographer", whatever the hell that means. The feeds became clogged with homogenous shots of feet over the same beaches, curving roads, VW vans, etc. It became about the aesthetic you show, rather than the person and events that you are.
That still happens, and it can be a pain, but it's also easy to ignore.
And I do play the hashtag game; not to garner followers or likes but for the rare occasion where another photographer with a similar interest in "real photography" happens to be checking that same hashtag and comes across my photos, or vice versa.
On average I'm getting about 100 likes and 4 or 5 followers per shot. A lot of that is noise, but some of them are real photographers with an interest in the hobby and it's nice to meet people based solely on their photos. I've had conversations with some folks on Instagram local to me suggesting what parks I should shoot at, and I've chatted with others different film development techniques, and so on. For those situations it's worth it.
I will say that Instagram's saving grace is that it's hard to blindly share content since it requires a separate app currently. If that ever changes, and it probably will, I'll be gone.
I should add that very few of the people I follow post anything about themselves. Lazy selfies get them unfollowed. I'm in it because it's a more active photographer community than flickr/500px/whatever.
Same social media rule applies: if you don't like it, just unfollow. I'd argue that it's easier to do that on IG than FB as it feels less personal.