I have to think that what basically amounts to spam will bring about a quality vs quantity tipping point for the platform and ultimately cause people to abandon it if not mitigated.
I've been pretty aggressively unfollowing accounts in Instagram. I kind-of wish they'd create a "list" feature, but I'm OK with just cutting it down to my core group of friends. When I want to see the stuff of the influencers, other things I only need in small doses, I go to the search and look at hashtags or "videos I might like".
Ideally, to me, my social network would be a small group of people I know and love.