I agree with a lot of what you said. I think we need a digital bill of rights to protect things like online privacy and personal data.
There's two reasons TikTok is different:
Being controlled by a foreign adversary is not comparable to a corporation trying to make money. They will use the data they collect to weaken American interests and push their own.
As I understand it, the data collected by TikTok is so excessive it makes Facebook look mild.