I doubt it was to get a day of cell phone intercepts since it would be far easier and stealthier for China simply send a Stingray-type device to one of their thousands of industrial espionage agents already operating in the U.S. to drive it around in a van in whatever area and time period they are targeting. In fact, I suspect they (and others) already do that.
I think the purpose for sending the balloon was primarily to analyze the radar and RF environment on approach to U.S. airspace. The secondary purpose may have been as a test to see how and how quickly we would respond to the provocation.
We may not learn much from the wreckage as I suspect we'll find a lot of wide-band software defined radio gear which already uploaded its recorded data via satellite and wiped its software.