Good point Anis Rashid
Also, Gary’s point 3. — sure it might not “kill” snapchat but it’s going to compete for said user’s attention, whatever you want to call that.
Users aren’t going to create similar stories on both apps, so it will eventually be one or the other. Which that will be comes down to which platform gets the user said engagement. Traditionally Snapchat has done a poor job (intentional?) of discovering new users, unless you’re already friends. If the stories feature makes it to Instagram’s discovery/search page, and Snapchat doesn’t address that, then it might overtake adoption by new “stories users” and existing users of both platforms.
It’s hard to start on Snapchat from scratch, Instagram, not so much.