Don't be fooled by talk about security or privacy. This is simple Nation State realpolitik. TikTok is a propaganda threat controlled by a non-friendly state to the US. Any other way to look at this is naive.
What's your point? China literally has a nationwide firewall to prevent Western ideas from entering the minds of its subjects. Why should we throw open our digital borders to Chinese influence campaigns? "The supreme art of war is to defeat the enemy without fighting", e.g. to undermine Americans' faith in our democratic institutions, to gain the ability to compromise our critical infrastructure, and to influence our…
All things considered, it's a minor problem for the US/West. Just looking like hypocrites. Compared to, say, the 2003 Iraq war it's a nothingburger.