Is 10k Followers Still a Big Deal?

A few years ago, hitting 10k followers on Instagram felt like a huge milestone. People talked about it like it was the point where an account finally became established.

Now I see accounts with 2k followers getting better reach and engagement than pages with 20k+.

Made me wonder if follower count matters as much as it used to.

Do you still see 10k followers as a major milestone on Instagram, or has reach and engagement become more important than audience size?