It doesn't bother me nearly as much as poorly done High Dynamic Range images. . .
1- The normal enhancements you are not supposed to hear. Maybe a bit of reverb or compression. For these effects, in my experience, the proper way to tune it is to turn the knob until you hear it, and then turn it back half ways.
2- The exceptional strong effect that is part of the sound. Here, you should turn knobs to their max, it will make a different sound.
The "instagram" plague looks to me like if everyone in every music would suddenly add 150% of one type of reverb, and everyone would blindly think it is great, and in two years none of these will be heard (seen) without laughing.
Artistic interpretation of images is great. But the display of a phone (especially a smaller display as on an iPhone) just doesn't let you do it effectively. Between the low resolution, and the fact that you're probably in an environment that makes it all but impossible to accurately judge contrast, sharpness, and color, the results are pretty much guaranteed to be garbage.
If you want to do this kind of thing, go ahead. But to do so, put it on a real monitor so you can see what you're doing.