Give that everything is personal for trump, it’s hard to imagine this isn’t a little bit of a thank you to twitter and Facebook and a bit of a payback for the tictok users encouraging fake registrations for trump rallies.
What would have happened when China just let Google in for a few years and than say "Thank you" after chopping China's part off. Everybody talking about China only doing copying is experiencing cognitive dissonance driven by ignorance of the accomplishments of Bytedance & TikTok. Google still hasn't internally launched a Tiktok clone and Faceberg can't steal a specific feature that integrates easily in his products.
People are consuming content on TikTok because it has game like cooperation baked in and is thereby more engaging than watching Youtube videos, TikTok's dopamine hack is superior to Twitter and Facebook because those have disastrous 2nd and 3th order effects which get shoveled under the denial rug of free speech and capitalism.
This event is significant because this is the first China time beat the West on execution and originality of the innovation. People are panicking because the defensible network effects of the walled gardens do not exist when China throws a better mousetrap over the fence.