This is such a horrible idea!
When kids beg their parents to get on Instagram, one of the BEST tools the parents have is, "They have an age limit." So of COURSE Facebook wants to take that away.
Facebook is working on building a version of Instagram for kids UNDER 13. They didn't say when it might come out.
They say they're focusing on privacy and safety with the app . . . but Facebook already has a version of Facebook Messenger for kids ages six to 12, and it's had plenty of privacy and safety issues.