I actually welcome this idea, far too many of us are concerned with what others think instead of simply sharing content that means something to us. This allows for a more organic experience IMO.
From Harpers Bazaar
Instagram is considering hiding likes in a bid to reduce social media pressure. If the idea is implemented, it would mean that posts would no longer show how many people have liked a specific post, only that it was liked by a few named handles "and others".
Users will still be able to monitor the number of likes their photo receives, but the outside world won't. The decision would have a big impact on influencers, who use the number of likes to demonstrate their popularity and resonance with their followers. If companies can't see publicly how much engagement a post receives, then it's likely to affect sponsorship deals and brand partnerships.