I think one thing that seems to be missed here is none of the products they showed were that original. It's not like WeChat was some amazing new idea. It was chat. Their only real advantage is a captive market.
On the other hand, I look at all Western social apps and cringe: Facebook made a big deal from launching their instant games for messenger, Twitch from allowing some extra monetization options, YouTube actually reducing opportunities for people to make money.
Look at China with their WeChat, Weibo, bilibili, QQ and many more..
I wish I could open Facebook, start doing a live and people can send me money (red packets, rockets, cute cats, auspicious objects etc.) for doing it, right there.
Meanwhile there's the EU where if you receive 5E, you have the IRS from 28 countries breathing down your neck, asking for their cut, fining you, smacking a GDPR notice because why not and passing legislation to "enable" competitive startups similar to the US (/semi-sarcastic).