Instagram have been through a few changes recently as they figure out the best way to handle business accounts and paid advertising. This is a great new article that explains what is now happening and how it will affect your business.
In a nutshell, these are the main points:
Insta remembers what, and who, you like and prioritises those accounts or subjects on your feed. The more you interact with an account (e.g. likes or comments), the more likely you are to see their future posts.
Video posts aren't given a higher ranking than image posts, unless you prefer to see videos! It's purely down to a personal preference as to how you like to view content.
Using Stories or Live doesn't lead to a higher ranking for your account.
Shadowbanning (i.e. being penalised for repeatedly using the same hashtags) doesn't exist, so copy and paste away!