Totally agree. Having this discussion so US centred just makes us miss the forest for the trees. Apart from data owned by US citizens, my impression is that data stored in the US is fair game for three letter agencies, and I really doubt most companies would spend more than five minutes agreeing with law enforcement if asked for full access to their database on non-US nationals.
Also, remember that WhatsApp is the go-to app for communication in most of the world outside the US. And although it's end-to-end encrypted, it's always nudging you to back up your data to Google or Apple storage. I can't think of a better target for US intelligence to get a glimpse of conversations about their targets in real time, without needing to hack each individual phone. If WhatsApp were a Chinese app, this conversation about E2E and backup restrictions would have happened a long time ago. It's the same on how TikTok algorithm suddenly had a strong influence on steering public opinion and instead of fixing the game we banned the player.