Is instagram dying?

Hi everyone, I have a fashion brand targeted towards women aged between 20-45. I have relied on instagram for my marketing for years now and I was pretty happy with the ROI from influencer deals, paid ads, and even UGC, which I never paid a penny for. But since they changed the algorithm to make it more like TikTok, the numbers have been really, really disappointing. I've heard about other businesses in my niche that are smashing it on TikTok. However I've also heard that its algorithm is not very reliable. What do you guys think? Is Instagram dying? Do you think it will ever go back to what it used to be or would it end up like Facebook? Is TikTok worth the effort/money?

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