Social Media: Is Instagram Trying to Be Like Snapchat?

2 of the most used apps that everybody uses is Instagram and Snapchat. As more updates come for both apps we start to see some similarities. Instagram was created before Snapchat however it seems like Instagram is doing the same thing as Snapchat. Here are some examples.
Story
When going on the news feed on Instagram you will see circles on the top of the page where you will see who you follow stories. Just like Snapchat you're able to send a message from the story and also see who views your story.
Some things you can post on your story are Boomerangs, a recent photo from your camera roll and add a caption and filters just like Snapchat.
Messaging
You’re able to still DM (Direct Message) people you're now able to send a photo to them like Snapchat. Of course it will disappear and you will be able to see if they screenshoted it or replayed it.
Instagram is trying to be like Snapchat in those aspects, however there is still some differences.
Live Video(Instagram)
You’re now able to make a live video for up to an hour. Once you're all done nobody will be able to see it and nobody will get that annoying notification that you are “going live now”.
Memories(Snapchat)
Snapchat had a update as well where you're able to see all of your snaps over the years. And there is a special tab called My eyes only where you're the only one who can see it. Maybe Instagram is already creating a feature for themselves. We will have stay tuned for the for the next update.