Here is a short hands-on of the new Twitter photo filter sharing feature in the official Twitter Android app. Personally I think it much worse than Instagram, few filters and can only share to Twitter. Instagram is a social network with a lot of interaction in itself. You can also share to different social networks and not only to Twitter. So Instagram will survive this. I am sure of that.
The New Features:
Filters. Apply one of eight filters, ranging from black & white to vintage, to add a new look and feel to your photos.
Take a bird’s-eye view. See how each filter would affect your photo in a single grid view, or swipe through looks to compare your options.
Frame the action. Crop and pinch to zoom in order to focus attention.
Auto-enhance. Make your photos pop with balanced light and colors by tapping the wand.