Ten thousand percent this.
As a musician & composer I can say that there is no real reason for me to have Instagram for Business, or even a Creator Account to be honest. I’m never going to run ads because they lower reach, and I’m never really going to need business insights. It’s pretty obvious when a post is doing well in search / explore & hashtag results from the general engagement. Nobody ever buys my music as a result of Instagram, or even listens to it for that matter (outside of Instagram and IGTV), save a select few avid fans.
In terms of whether it lowers reach or not, I think that I summed it up quite nicely in a previous post:
Ultimately, you need to decide if they’re worth it for you. I find them useful on some accounts and useless on others.
In terms of reach, it makes sense that general reach will increase with a personal account because your posts will not be filtered by your business account industry choice, although it will be just that: general reach - a very loose audience, which is actually better in most cases. This is where hashtags become more important. You’ll reach a higher percentage of your audience because Instagram is not trying too hard to show your posts to a highly relevant business audience, but with the right hashtags you’ll reach them anyway. For all we know their algorithm isn’t even functioning as it should be. There’s a good chance that Instagram has just blotched the job.
Thanks for the insightful post and also for the feature! Appreciate it.