If it's an open secret then the advertisers will adjust for it. Radio and tv stations have been working with fuzzy audience numbers for years and advertisers go along with it.
I'm pretty sure most advertisers already do adjust for it, because they know how big of a problem it is. But that's not what I meant to focus on.
What I'm trying to say is that, like Twitter, IG will probably start to lose a lot of public respect and valuation if they keep boasting "we have 1 billion active users!" once the general public starts to get wind of the fact that the 1 billion number is bullshit.