2) yes, that is an issue.
3) fair point.
This is distinct from a foreign entity, without registering as a foreign entity, directly participating in electioneering. While it's true that the Russian involvement in 2016 was overblown let's not pretend it's the same as legal political spending.
That's besides the money funneled through other agencies which are more covert.
That means that countries around the world have US funded no profits effectively doing non bi-partizan political activity.
Officially those should only inform (foreign) citizens about their civic and voting rights, in reality they are more often than not tools of the US to influence and take huge biases in other countries.
And here's the underlying problem: as per American exceptionalism it's fine when US does that, but it's unacceptable when others do it in US.
*Source: https://www.emarketer.com/content/political-ad-spend-nearly-...
The huge difference is that while foreign adversaries run influence networks on other social media platforms (and are opposed and combatted by those platforms) TikTok (the platform itself) is controlled by the foreign adversary (the CCP).
And elections are decided by margins, pushing them even slightly has massive, irrevocable consequences.