I can't upvote this comment/joke more. Reminds me of that guy who bought a bank building and forced out the band who foreclosed on him.

Found it: http://business.time.com/2011/06/06/homeowner-forecloses-on-...

On a more serious note, what is the procedure to get one of these dormant accounts? Is at all automatic and on the day I sign up simply makes it available to me? or is there some kind of internal system, or "drop" (as with domains) where these newly renamed accounts are made available? Transparency from Instagram on this issue would be best.