Automatic instancing vs instansing with ISM

For some time I was thinking that instanced static mesh component is a huge draw call saver. However recently I realized that since some recent version of UE4 entire rendering pipeline was changed and Automatic instancing was added to it. I made some tests spawning 1000 boxes via ISM and via 1000 individual static mesh actors and checked mesh draw calls. It was 30 draw calls in both cases.

Are there any reasons to use instancing anymore? What are the advantages of HISM or ISM over Automatic instancing and should one replace ISM with individual static mesh actors and begin relying on improved rendering pipeline?