Okay, but see it this way.
USA has my data vs China has my data. The odds of China having my data impacting my life in a negative way is lower than the USA doing this.
That's an assumption, but I think for most people living in the West, that seems at least reasonable to me.
The difference is the Chinese government has a board seat at ByteDance, not to mention soft control via broad government authority over markets. If China wants, boosting content to manipulate US elections or tracking the location of people of interest are things it can easily ask TikTok to do (and has done, apparently).
This is different from the way the US government uses Facebook, for example. It does not have power to boost or demote content, or request location data for people of interest. It can collect far narrower information about people with a warrant, and even then some data it cannot collect (eg. e2ee messaging data).
True, but it’s disingenuous to fail to acknowledge the difference between that and, say, the US State Department having a board seat at Meta and directing which posts should be boosted on everyones’ feeds.
That's an assumption, but I think for most people living in the West, that seems at least reasonable to me.