Privacy is subjective. Use it but dont use it for things you don't want Facebook to know about. Don't use it on your phone. Don't use it on a computer with things you care about. Keep it in a container tab in your browser but don't keep it open all the time.
It's kind of a pain but you can definitely be mindful and only give meta crumbs where others are giving them truckloads of data.
Sadly there is a lot of good content on Instagram