That's just a silly example that doesn't even get into the posting of risky behaviors, using inappropriate language, bullying or whatever else. I do not believe kids grok all this innately and it's important for parents (and teachers and coaches and other adult influences in their lives) to educate them.
We also spot check our kids' phones periodically. Not because we don't trust them, but because it's important to know sometimes whether there are issues afoot that we aren't privy to and could help with. (Disappearing messages is another parental challenge with Snap.). This might sound overbearing and intrusive, but I don't believe it is. Our 16yo has mostly graduated from us feeling a need to check his comms, but we still monitor our 14yo a couple times a week because she's less forthcoming about goings on in her friend group.
Fwiw, it's not like we don't trust our kids to make good decisions themselves. We have added both as authorized users to one of our credit cards, which they have access to via Google Wallet. In all things like this, clear communications and expectation setting between parents & children is the most important, no matter what you decide -- or whether your decisions change over time (or are dependent on the child's own behavior/decisions).
It'd be very limiting not to allow your child to have access to things like Snapchat when all their peers have it and are using it to communicate on a daily basis.