So, I read it and Insta's data sharing is as intrusive and invasive as Whatsapp is going to have. So, for the moment, I have turned off all permissions for the insta app on my phone and the app still works. I never entered my phone number in that and they will still have my usage data but that every website and their brother do via cookies these days.
That's where I am drawing the line for the moment. Telling you in case you didn't know that Insta can use your camera for face recognition and use it for their purposes.