That from a "tiktok is bad for you" perspective. From a security and economic perspective there's a big difference between the company behind it being Meta or bytedance.
Then again, if tiktok people flock to reels we'd sort of have a big concentration of the social media market in the hands of Meta. Concerning, looking into this, etc.
Ultimately I do believe the issue here is more of a "we don't want Americans using a Chinese app" than anything else. And from there they seek reasons to justify the ban.