Facebook isn't dumb enough to just make it part of Facebook and kill the entire thing
they are keeping it somewhat independent meaning it will be it's own thing, still be able to post pictures on other social networks have friends who aren't your Facebook friends and so on. The only thing that will change (and it's a good change) is there will be more integration for Instagram/Facebook users. You can post instagram photos directly onto FB and things like that.
I hate when people overreact to this shit without actually reading what is going to happen
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