How is that different than Facebook? We have known for Facebook shady data policies for 10 years, and that has never prevented people from using it, why do you think suddenly people would care more when it comes to TikTok?
Tiktok gives your data to China. I don't know what they are doing with it but they are not using it for better targetted ads. I guess when they request permission for my phone contacts, clipboard content, private photos at least I know they aren't using it for ads.