Hello!
Are you questionning the platform only or the general use of social media?
You said it is nice to get general public attention. It is nice, but is that useful? Depending on your expectations, you might find Linkedin, twitter, youtube, etc. more relevant to you. Have your work been noticed in a way a more traditional method would not have permitted?
I know someone who made immense efforts to build up a large following community in the hope that a certain percentage of his followers would support him on Patreon and help him to switch career towards the illustration industry.
I think you have to see social media as a mean to reach to your objectives and, depending of your goals, some platforms will be more appropriate than others.
By the way... I am on Insta. But I am not a professional! I use social media for entertainment and support (to keep me going). Now, the sense of community is stronger on this forum and I usually discover more interesting artists by recommendations on podcasts than by scrolling down FB or IG.
If I were a business owner (meaning an independant illustrator), I think I will give a lot of thoughts on my strategy (as time is money - strong assessement on time to value is required), taking into account where I am at in my carreer.
I hope this helps!
Julia