Instagram launches its CapCut : Edits

Instagram has announced a new app called "Edits" that takes on CapCut.
Edits is a video editing app offering a range of editing tools, such as the ability to share drafts with friends and other creators, all without a watermark. The app is already available on the iOS App Store and will soon be coming to Android. However, it won’t be available for download until next month and is already in beta, being tested by a few lucky creators.

it's sound great

No matter what happens, I think it will not be able to achieve what Capcut achieved in the first 1-2 years.