apple is another one of those companies that really have wanted to get into social. I really don't see this as a snap replacement unless people move to instagram stories. FB and imessage are really for more personal social groups. Snap still has the benefit of being somewhat anonymous for not so personal contacts, like online only groups of friends. Could this eat into Snap's usage, very likely.
I haven't actually read apple's design standards but it doesn't seem like it'd come close to meeting it
At the very least the dark gray + red color scheme clashes with every other apple app i can think of..