Graph API for Instagram is going to replace the current API?

Question

API

Received on January 30 an email with the following content:
Hi Instagram Developer,
We wanted to inform you of upcoming API changes that affect Instagram's two public APIs. Starting July 31, 2018 we will begin deprecating the older Instagram API Platform with complete deprecation occurring by early 2020 - please see a detailed timeline below. We understand that this may affect your business or services so we want to ensure a smooth transition by informing you of these changes.
If your application supports Instagram business profile users, we encourage you to begin building on the Instagram Graph API (launched to all developers in August 2017) if you have not done so already. We are excited to share that, starting on 1/30, two new features are available to all developers on the Instagram Graph API - more details below.
Instagram API Platform: Full Deprecation Schedule
The following will be deprecated on July 31, 2018:
Follower List - to read the list of followers and followed-by users
Relationships - to follow and unfollow accounts on a user's behalf
Commenting on Public Content - to post and delete comments on a user's behalf on public media
The following will be deprecated on December 11, 2018:
Commenting - to post and delete comments on a user's behalf on owned media
Public Content - to read any public profile info and media on a user's behalf
Likes - to like and unlike media on a user's behalf
Subscriptions - to receive notifications when media is posted
The following will be deprecated in early 2020:
Basic - to read a user's profile info and media
Instagram Graph API: Launches
The following features are now available for Instagram business profiles to all developers:
Business Discovery [NEW] - Discover and read the profile info and media of other business profiles.
Mentions [NEW] - Read public media that a business has been photo tagged or @mentioned in. Post comments on a business' behalf on media it was tagged or mentioned in.
Insights - Help businesses access and analyze valuable metrics about their Instagram business profile. Enable them to understand and optimize the performance of their organic content on Instagram.
Comment Moderation - Drive interactions at scale. Enable businesses to more efficiently interact with their audience through comments under their media on Instagram.
Support for Non-Business Profiles [FUTURE]: Basic permissioning for non-business profiles will be supported in early 2019.
To find out more about the new Instagram Graph API features, check out the documentation.
Do I understand correctly?! Will they gradually switch from the current API to the new one? Will all the same features be available?

Answer 1

right
not everyone will be available
legislation is changing, you see

Answer 2

The new API will only work with business profiles, getting information about regular profiles will not be available. All topics with the collection of photos by hashtag, etc. - all this will not work.