Is the instagram growth/saas market going to be wrecked these next few years?

Instagram Graph API Launches and Instagram API Platform Deprecation - Facebook for Developers

I was reading up on the Instagram API docs/news tonight and was pretty alarmed to see the changes they are making. Am I reading these docs/news though correctly?

Based on the changes they are making it appears like so many old methods and tools are going to be completely useless. Seems pretty radical

I can find some good in this though. Maybe this will free up the Instagram ecosystem from all the spam and automation they have been focused on fighting these last few years. This could open up more opportunity for people who are actually producing good content and building good community but I still think there are several good use cases for using tools that use these API features in good standards.

The only option to go against these changes I think is to not use the API and stick with native software which is what big automation/bot companies tend to end up doing but I feel like that's quite a frustrating path when it comes to constantly upkeeping software.

What are your thoughts?