The fact that (for now) there are no consequences has no connection to the original point about privacy.

The fact that China acts punitively with the data they gather on their citizens, and the US does not (yet), doesn't change at all the fact that the US actively harvests that data in a very aggressive way.

There may or may never be a time where the US starts acting on it, covertly or openly. But still, they're siphoning all of my data, and all of yours too and I don't see why we are downplaying it by saying it's worse elsewhere.