Define worse, because basically every metric I'm aware of says that instagram is more popular and has higher user engagement than ever.
I think your "filtered feed" complaint is something that really ticks off a narrow segment of users, but that the remaining 99% doesn't care about at all. All they notice is a more interesting and relevant feed. Look at it this way - basically every major social network (instagram, twitter, facebook, youtube, etc) has implemented some sort of filtered feed. Every time some small segment of tech-savvy users or power users gets extremely annoyed and complains loudly, but I'm unaware of any network reversing the decision and going back to pure chronological - to me, that says that their internal engagement numbers overwhelmingly justify the decision.