FB is going to be worthless soon.
That's cute.
I agree with your first sentiment.
As for insulting 800+ million people because they happen to use a website that you don't like? Stop being a pretentious knob and quit worrying about things you apparently don't care for.
Even so, I'd bet that it would be a hard task to migrate 30 million people when a lot of them have already invested so much time into the app (I'm sure some would have hundreds, if not thousands, of photos tied to their account). Also, a lot of celebrities use Instagram which definitely has a lot of pulling power for certain groups of people (much like Twitter).
Is Instagram worth $1 billion? I'd say definitely not, but I can understand why he'd rather buy them out instead of creating a similar app.
The moon is made of green cheese. -- John Heywood