I don't mean it in a "super bowl commercial" way; the products in Instagram ads are the consistently interesting part. It seems like a safe assumption that the advertisers for plenty of uninteresting products are trying to buy ads on Instagram, and that the advertisers for plenty of interesting products are trying to buy ads elsewhere. That means that Instagram's targeting is the differentiating factor.

I guess my argument is that it's not innovative or "hard" to sell ads to people who have given you massive amounts of personal and demographic information (voluntarily!)

Both Google and Amazon know a great deal about me and my purchasing habits. Neither shows me ads that feel very relevant.