It's interesting, I doubt it'll ever be successful.
Look, the reason a lot of content makes it's way to Youtube, tiktok, and twitter, etc is because the creators can earn money from the platform. On youtube and tiktok, you can send gifts to your favorite creator. That incentivizes creators to create content.
loops will never have that feature. It's really hard to legally distribute money like that. But further, the decentralized nature of it means that you'll never know if your funds ends up in your creator's account or the instant account.
Without any sort of path to make money, the only content on the platform will be works of passion. Maybe that's a good thing, but it means these people will ultimately burn out.
But on the plus side, it means you probably won't end up with an endless stream of AI slop.
Instagram pays hardly anything. I don't know anyone doing it for that reason. It's more advertising for their other services. Like onlyfans, selling physical stuff, lectures, events etc.
And of course the people who do it for fun, usually the best content. It doesn't matter they'll eventually stop. There's always new ones.
I'm not sure about tiktok, but I doubt they pay much more than insta.