I do small talk. I don't think I do it instinctively.
Whether I like doing it depends on several factors, including mood at that moment, how tired/in pain I am, how I feel about the other person, what the topic is, the ratio of listening to talking, how free do I feel to wrap things up if it goes wrong. Small talk can be nice, it can also be really off-putting.
I'm very happy to listen to others - if someone wants to talk about their weekend or an event they've been to or their thoughts on the weather, I will usually be attentive and willing to talk. If someone starts asking questions about me - I do instinctively protect my personal information in person - or at least it's become instinct having been burnt repeatedly. I tend to be fairly brief and then flip it around to the other person if I can.
Not everyone has kind intentions or is just chatting to be social. Some people have an entirely different agenda such as (thinking more office environment, though not the only place I've had this) small talk when they're fishing for information to use against you. Some people who start nice flip on a switch. I've been shouted at in public for giving the 'wrong' answer about my accent, so I've learned to be cautious. I'm slow to warm up to people and feel comfortable discussing some topics that for others are very easy, normal stranger chitchat.
I would far rather discuss with people how often I think about death than discuss anything about my personal background or home life with strangers or acquaintances.