What creative culture? A billion user beast does not know, need or want creative or culture.
It wants profits and more of them, every quarter.
TikTok's only 'innovation' is paying billions of dollars to teenagers to create meme videos. Instagram isn't losing to TikTok's 'creative culture', it's losing to American elite's favorite move - throwing money at a problem until everyone else quits, at which point you give talks and write books about how it was due to innovation, freedom and democracy, oh and LGBTQ+ or whatever the term is nowadays.
Source: know a couple of people who could barely scrape by on Instagram/youtube, switched to TikTok and are all of a sudden making more money than me. The infinite money faucet at TikTok will soon run dry and it'll become just another shit social media platform, like all the rest.