That does not sound enjoyable and seems like HDR abuse.
The "normal" video should aim to be moderately bright on average, the extra peak brightness is good for contrast in dark scenes.
Other comments comparing it to the loudness war ar apt. Some music streaming services are enfircing loudness normalization to solve this. Any brickwalled song gets played a bit quieter when the app is being a radio.
Instagram could enforce this too, but it seems unlikely unless it actually effects engagement.
The "normal" video should aim to be moderately bright on average, the extra peak brightness is good for contrast in dark scenes. Other comments comparing it to the loudness war ar apt. Some music streaming services are enfircing loudness normalization to solve this. Any brickwalled song gets played a bit quieter when the app is being a radio.
Instagram could enforce this too, but it seems unlikely unless it actually effects engagement.