Hand holding a tiny trophy with Instagram symbol between fingers.
People are already posting for likes, attention, and clout. Adding a little badge to show one's personal achievements probably won't make a difference.

Instagram would super-duper like everyone to post more, especially creators. In a landscape where people are posting less and less on social media overall, making the platform seem active and vibrant is crucial to keeping people's attention. So Instagram is pulling out all the stops, or at least some stops, to get users to share, some of which may be more worthwhile than others.