Please pardon my observations below if I overlooked some key aspect of the ipfs installation (installing as root user).
As you probably know /sbin contains an unrelated program called “ipfs” ( https://www.unix.com/man-page/FreeBSD/8/ipfs ). While the install.sh script from https://dist.ipfs.io/#go-ipfs is fine for moving binaries into /usr/local/bin, the ipfs-update binary ( https://dist.ipfs.io/#ipfs-update ) when run uses /sbin, at least on my system.
The issue seems somewhat resolved by renaming ipfs as ipfs-go, as with https://www.freshports.org/sysutils/ipfs-go, but ipfs-update does not recognize ipfs-go. When run, ipfs-update prints “installing new binary to /sbin/ipfs” and does indeed clobber the non-related ipfs utility.
As a fix, one can move the new ipfs to /usr/local/bin and rename it ipfs-go, such as "mv /sbin/ipfs /usr/local/bin/ipfs-go. Of course, before doing any installs make a copy of the original ipfs, such as "cp /sbin/ipfs /sbin/ipfs_OLD
Suggestions for streamlining this process are appreciated. I will next examine the source code for ipfs-update for target directory clues. Here(?): https://github.com/ipfs/ipfs-update/blob/master/main.go