Can Someone Explain Instagram To Me?

I joined Instagram in April 2011 and have posted a grand total of 4 pictures to it so far, including the one that I posted just now to take a screen shot of this for this blog posting. I just don’t get the point. I put all my photos on Flickr and if I want to share photos with friends, I tweet and/or Facebook them. To use an annoying b-school phrase – what’s the value add? I mean, sure, you can apply a filter to the photo, but is that worth having to manage yet one more social network?

instagram

Tell me, dear blog readers, what am I missing?