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It doesn't have to be great. Users are already on instagram. Instagram reels were not better than snapchat stories, yet they still basically killed snapchat, because if people are already on Instagram, and so are their friends, that's all that matters.

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Instagram Reels is Instagram's TikTok competitor. Instagram called their stories product "Stories." Also, in a lot of ways, Instagram stories were better than Snapchat stories. For one, you have a wider network on Instagram compared to Snapchat, so there is more content to consume. Instagram also added a bunch of nice features, like various stickers you can interact with. The stickers were also tappable like buttons, which took Snapchat a very long time to add.

Right, that. I don't use Instagram so I might have confused the terms.

That and Snapchat's entire UX is utterly unintuitive

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