Instagram further updates the profile tab, puts more emphasis on the bio of the user and follower/following count is nudged below in smaller fonts.
The total posts count has been completely removed.
Platform has always been about how many followers you have, as the platform itself signified it. Users before following someone would quickly glance at the follower count, and decide whether they want to follow that account. More the followers, more interesting the account would be, had become a credence.
Social Samosa had previously reported about Profile being redesigned but the changes had not been specified. The motive of the redesign as stated by the company is to provide a better way to the users to express themselves and easily connect with people as the Profile is where users show who they are.
Instagram has also been eliminating inauthentic activities like fake followers and sham engagement, so the platform has been striving to make the engagement on the platform more organic and authentic.
The changes might not be permanent as Instagram mentioned that they are experimenting various combinations before deciding on a concrete change. Feedback from users would also affect this change.
The changes matter because Instagram was heading towards a bogus path, their recent efforts might change that.