@duco You made one possible case in your post, which, if accepted at face value (not that I believe it would be given that it is a separate product – if it wasn’t why would it need to have a separate name/exist separately to Instagram), could enable Meta to sidestep the antitrust regulation (“it’s not a different product so we are not using our monopoly position anticompetitively”).
My point was that that’s the sort of argument an advocate would make.