(in case lemmy hides titles: direct reply above, this is more of a "acktually" rant)
i'd claim that instagram is a microblogging platform: your "blog" is a photo instead of 300 chars of text. implementation-wise, an "instagram fedi clone" is just a mastodon instance with >1 pic limit (rather than text) and that only shows you posts with attachments
because of this i'm rather stingy at "instagram clones" or "tiktok clones": they tend to be bait to grab users fast, and fail to deliver proper software. as OP notices, peertube is a perfect "tiktok clone" backend, the only thing it needs to be a "real" clone is an algorithm (good luck with that) and being able to scroll up/down videos in the frontend. there is zero benefit in reinventing the wheel from scratch with loops.video, as the focus ends up on "looking like tiktok" rather than "how do i serve super heavy content super fast to users without suffocating my infra". also the whole "dansup is at best sketchy and at worst abusive with his contributors".
so i'll ask you back: what do you want from an "instagram-like fedi app"? should it just require you to add a picture while posting and only show you posts with images? should put the image above the text? these requirements are fully clientside and don't require a separate server
i'm considering starting a kickstarter myself asking 1/10th of what dan is asking to make such an app, it's literally all UI. it would be 100% a petty move but fedi really needs to stop throwing money at sketchy devs. silverpill from mitra saw zero donations while doing the whole FEP thing, but dansup says "fedi tiktok" and gets 50k...