>I’m not sure which part of our national security surveillance state apparatus is endangered by foreign ownership,
The propaganda part.
Remember a month ago when everyone's feed had a video in it from the TikTok CEO encouraging people to side with TikTok.
They are scared shitless of not being mostly in control of that kind of power when applied to Americans. They are worried that the next Saddam is going to pay TikTok, or some future foreign competitor to torpedo whatever the next WMD lie is (and this will be done with Chinese blessing because that will be in their geopolitical interest).
The possibility was easy to ignore back when all the social media giants were American and the feds had jurisdiction and soft power over them. Now there's a new entrant that China has jurisdiction and soft power over. They want the status quo back. Hence why all the bill language is mostly about preventing foreign ownership.