Outside of it being a Meta creation, the fact that it is inextricably tied to an Instagram account is enough to keep me away. Even if the app itself isn’t collecting your data (it is, though), all of your information is bundled together in a neat little package, stretching across platforms.
I have a bizarre sensitivity to shea butter and beeswax, so am heavily limited in the chapstick department. Aquaphor is absolutely the best!