This is especially important when you consider intent. If you use a hashtag like #instantpot when promoting the Instant Pot in an Instagram recipe post, there’s a good chance you’ll get exposure to fellow Instant Pot affiliates or people who own Instant Pots already. It's fine to include it, so long as it's just one in a long list of more relevant hashtags.
One other positive about the Ultimate Bundles affiliate program that your readers may not have realized… They actually offer second-tier commissions too, meaning you’ll earn a share of the sales from any affiliates that you refer to the program. In this case, it’s 10% of their bundle sales during their first year as an affiliate which could be a nice earner!