Snapchat is still doing fine considering how much competition they have all over the place e.g. Instagram, TikTok, YouTube etc.
TikTok won't be banned because US will force it to relocate all their relevant servers to US and hand in US citizens' data to US agencies. And realistically speaking TikTok is no different than Microsoft, Google and Facebook; instead all data going to one superpower it flows to another and majority of this data is garbage that's inefficiently used to target you with personalized ads. Personal data is mostly garbage like I said but data about specific groups and overall population might be more valuable and important taking in consideration economic competition and arms race between US and China.
TikTok being banned would cause immense backlash with the public. Odds are higher it will get replaced before a ban takes place, and Insta isn't exactly stepping up.
Problem with snapchat is that no one older than 25 uses it. They've already saturated their user base and stuffed as many ads as they can into the app. There's not really anywhere for them to go and they're still losing money.
They refused Facebook's acquisition offer but I think their endgame is getting acquired by Google. Facebook offered $3bn but Google will have to offer much more, at least x5 more.
TikTok is strong, but realistically will be banned across the west next couple years b/c of security problems.
You might hate Instagram, and that's very understandable, but it's going to be fine.