I don’t think I’m missing any point. Have you used it? They’re owned by the same company. Threads is separate but part of Instagram. Other than the user name being reserved on Threads in case the Instagram user wants to sign up, there isn’t an account created. If you try to search the name of any of those accounts in Threads it doesn’t come up at all. (Edit: mistyped a word)

None of the data other than the user name is shown in Threads until the user from Instagram activates their account. I’ve tried to look up a number of the people from Instagram on Threads and if they haven’t signed up, then the search results are zero.

Why does everything have to be a conspiracy with some people? Threads literally and directly explains that it uses your Instagram account. They’re the same account. Nothing crazy. No magic. No oogie boogie. Just the same account.