DMs are the real "story"
A lot has been made of Instagram co-opting Snapchat's Stories feature set. And while it's does matter for a lot of reasons (namely, it's another sources of ad placements for Facebook, Inc. as its user growth slows), slaying Stories isn't how Facebook can slay Snapchat.
For that to happen, Facebook needs to take not just revenue opportunities from Snapchat, but users. That means beating Snapchat at its core function: Instagram needs to become the best visually-oriented direct message platform there is.
And Facebook knows that. Despite having two of the world's most popular messaging apps, Facebook's best efforts to make them direct competitors with the photo-first Snapchat have failed.
Enter Remix. This genuinely fun, unique feature is just one of the ways Instagram has recently reinvigorated the former backwater that is its Direct Message feature set. So while everybody else is talking Stories, keep in mind the real story.