I guess it does for some , but for me I just use it to keep in touch with people I don't see that much of and just post general news or silly memes!
I'm old and not bothered about all the other stuff or how I look and I'm not on Instagram.
I think it can be a positive thing , but for many young people it clearly can be toxic and that is sad.
My children are now adults and don't really go on there, if your a parent of young teens it must be more of a minefield.