Suppose I exported all of my posts, photos, contacts, and a bunch of metadata from social network A. Perhaps I could view the contacts in Excel and browse the photos in my favorite gallery app. But unless I can upload it all to social network B and continue as if I've been using B all along, the data is not really "portable". It's just a backup, a frozen snapshot that can't be unpacked anywhere else.
I'm not even sure if it makes any sense to import one's Twitter feed into Instagram or one's Facebook profile into Reddit. Edit: I'm not saying this is because of anti-competitive behavior on anyone's part. The services simply are so drastically different.