I'm personally big fan, but I'm relatively new to the site and make my home base on tumblr, so I might not be the best point of reference. Though I've definitely spam faved and commented before and no-one's ever said anything bad about it, and in fact I've gotten a couple "omg thanks for all the faves / comments!" type responses.
AFAIK there's no stupid instagram algorithm here that flags more than three likes in a row as "spam that's clearly false engagement farming that needs to be punished" so. that probably has a positive effect on how it's received.

Awesome!! Thank u!