I think so to, which says a lot about Meta. They understand full well that the Facebook brand is tarnished, irrelevant, or at the very least "old hat". You couldn't launch a new product under the Facebook brand if you wanted to.

The brand under which they launch isn't relevant though, they aren't going to compete with Twitter. The users they'd need to lure over are well aware that Instagram is Meta/Facebook/Zuckerberg and will not even try the platform on that basis alone. It's the same reason that their Metaverse doesn't stand a chance, none of the users who would normally be early adopters wants anything to do with them.

Unless they somehow roles Threads into Instagram I don't see this being a massively successful platform.