It's in the plans. Instagram supports the OAuth2 authentication protocol, which we've worked to make it 'simple' for us to add more providers that use it. The next release, v6.1 (June) will have a few more providers, and 6.2 will have even more after that. We're still finalizing which providers will go into which release, but Instagram should definitely be in one of those two releases. It basically comes down to which providers work the smoothest and without any hiccups. If we run into any issues, that would push it back to the next release.
With any new provider going forward, we basically want to implement the following from day 1 of it's availability:
* authentication
* profile import
* any social widgets they provide
* any 'channels' we can create for pushing your content to those networks or pulling content into a 'stream' on your site.
I hope that helps answer your question, even if it's a bit vague as to exactly when it would be available.
Thanks,
Alex