My honest appraisal:

Facebook is a ‘net positive’ for society, but Instagram is a ‘net negative’ to society.

Why?

I am the expert

As an undergrad at UCLA [2010], I taught a ‘Sociology of Facebook and Online Social Networks‘ course which was about:

What is the sociology of Facebook, and how will it affect the future?

It seems I was quite good at predicting almost a decade ago that Facebook would take over the world.

Facebook owns what?

Facebook owns a lot. They just wrote in a blog post:

Our main services include the Facebook app, Messenger, Instagram, WhatsApp, Oculus, Workplace, Portal and Calibra.