The US has been glorifying scenes of extreme violence for years on TV or in the movies. And yet, if a child were to mention they watched anything like that, and, god forbid, write a synopsis on it, they'd be looking at expulsion/sternly-worded letters too? Really, what kind of children are being raised there these days? Where everything is an offence of some kind, where to feel mildly insulted is a level of indignance akin to to smacking your mother in the face elsewhere in the world.
In a couple of decades, these mis-educated, skin-as-thick-as-paper children are going to be the ones running a country possessing the most powerful military on earth.
if you bully people online then it should be possible to find and bring you to justice.
Have we really come to the point that we'd choose to end something as important as the right - and the ability - to remain anonymous, all for the sake of catching bullies and bringing them to justice?
It probably won't be around in 5 years or so.
The userbase is predominantly teenagers who'll be very different people in a couple years, and the slightly older crowd who'll have moved onwards as well.
I see two issues:
1) Functionally, it's simple to replicate, and
2) The ephemeral nature of the pictures were what gave it traction in the first place. This is now under serious (20 years of) scrutiny.
There will likely remain a market for the functionality it offers, but the teen demographic will probably not be revitalised given its current situation.
Let's not mock the founder(s) for turning down the $3 billion though, this is a good lesson learned and hey, they're still young.
The first version always gets thrown away.