My understanding was that TikTok was basically the Chinese response to periscope and vine, which was popular, but couldn't make money. TikTok's scheme is to be spyware that even puts Facebook to shame, in a way that I'm not convinced isn't just government spyware disguised as social media where the point isn't to make a profit to begin with. If similar attempts have failed because of monetization struggles, I don't see an identical competitor emerging. We alrealy have many close substitutes.