You can't create one without providing ID so I don't think that's the case.
He created it originally over a year ago, during the height of OnlyFans mania in the pandemic. He even had a private "backup" Insta to go along with it (which I was annoyingly too late to get access to). But whatever happened, he got cold feet and never went ahead with it, deleted the Insta and stripped the OF of all his information, profile pic and renamed it to gibberish.
Then a few months back he readded his profile pic, name and even enabled the option to subscribe. I don't think he intends to use it, I personally think he did it just to goad unaware people into subscribing.
If he's not going to use it, he should remove the subscribe button, or make it explicit in the bio there'll be no content.