Well, I'm here to tell you that this "new" technology has actually been around for decades, as any kitchen veteran can tell you. The instant pot is just a fancier, electric, high tech version of a simple, low-tech, stovetop cooking device - the pressure cooker.
And yes, I've heard that the instant pot can also be a slow cooker and steamer all in one. But while I like multipurpose appliances, I am also skeptical about over-engineered, expensive ones that have lots of features subject to failure.
I much prefer a low-tech approach to cooking. Which is why I use a steamer basket for steaming instead of a dedicated steamer machine. And which is why I'll probably never buy an instant pot, but will stick with my simple pressure cooker instead.