I get it. We want corps to stop hoovering up our data because they can use it to manipulate us with advertising, and they can mishandle it such that other bad actors can exploit it. I'm with you, this is a valid concern that we should address. But I think TikTok's specific case warrants additional concern because it's all that, plus it puts a geopolitical adversary in control of the data, countless devices, and a media channel central to the current cultural zeitgeist.
I don't think it's reasonable to wait for general regulation of social media corps while TikTok continues to do its thing, particularly if targeted action against TikTok is politically viable.
Edit: typo