Exactly. Instagram doesn’t claim ownership to any of your content, but Instagram’s terms of use state that the user grants Instagram a non-exclusive, fully paid, and royalty-free, transferable, sub-licensable, worldwide license to use their content. Additionally, they can make money off your content without ever paying you a cut. Honestly, it’s pretty boiler plate at this point. No one should expect anything else from corporations.
Had to see it to believe it. On their website, under Support > Forum, you’re redirected to their Facebook group. This is criminal.