This is not a user privacy vs. megacorp story, it's a national security story.
I wish there was a megacorp privacy story to run here, sadly, I'm not sure Congress will go for it.
There is only one solution and that is for TT to be 'forked' from ByteDance/Doyin. It would literally cost almost nothing, there are almost zero synergies between Doyin and TT at this point, they will do just fine separately, and it won't cost anything but a few bankers/accountants to do the split.
TT will have to be based in Singapore or US and be completely independent from BD/Doyin but that's fine.
Nothing will skip a beat, everyone can be happy, kids can have their app but CCP won't have any control visibility at all.
Funny enough, ByteDance could probably retain maybe even majority control, although that might not work in practices.
And then we can get on with trying to get Congress to protect consumers from Meta ...