If you have to pay, at least try to negotiate 1) a guarantee that the hackers won't just do it again sometime later, and 2) full disclosure / assistance in repairing your vulnerabilities so you have some kind of head start for the future. Outside of politically motivated hackers, this would probably be reasonably successful.
Other hacking groups now know Instructure pays up.
What possible type of guarantee could one ever hope to "negotiate" with someone who has just successfully blackmailed/ransomed/extorted?