Well, it’s looks like the folks over at instagram heard you. Here’s their official statement regarding their Terms of Service: (TL;DR, they’re rolling them back to what they were)
The concerns we heard about from you the most focused on advertising, and what our changes might mean for you and your photos. There was confusion and real concern about what our possible advertising products could look like and how they would work.
Because of the feedback we have heard from you, we are reverting this advertising section to the original version that has been in effect since we launched the service in October 2010. You can see the updated terms here.
Going forward, rather than obtain permission from you to introduce possible advertising products we have not yet developed, we are going to take the time to complete our plans, and then come back to our users and explain how we would like for our advertising business to work.
You also had deep concerns about whether under our new terms, Instagram had any plans to sell your content. I want to be really clear: Instagram has no intention of selling your photos, and we never did. We don’t own your photos – you do.
I’m proud that Instagram has a community that feels so strongly about a product we all love. I’m even more proud that you feel empowered to be vocal and approach us with constructive feedback to help us build a better product. Thank you for your feedback, and I look forward to all that Instagram has to bring in the New Year.
Kevin Systrom co-founder, Instagram
Will you be posting any more lunch photos / feet / street signs to this social network are are you taking your filters and going to another social photography app?