With Instagram you either get Facebook's hyper-niche targeting parameters, or ads based on previous engagement as well.

Snapchat's targeting is deliberately vague (based on the presumed anonymity of the service) - which can be ok for brand-awareness campaigns, but bad for conversion campaigns, hence why you see it more tailored to puff-piece content over and above specific ecommerce.

Seemed like an interesting tool, but a harder one for SMEs to sign off on compared to IG/FB/Google.