The actual problem is and always has been control over the content being fed to users. It's not an issue of privacy, it's an issue of voter manipulation. It's just that the US has decided that it's okay with its own plutocrats manipulating voters while it's not okay with the CCP doing so.
On the one hand that's a very rational position for people who owe their election to algorithmic voter manipulation to take, but that doesn't really make it better ethically.