You're tautologically correct (TikTok is banned because TikTok is banned!), but that still doesn't answer the question. Put another way: if whatever Tiktok is doing represents a categorical privacy/security threat, then why aren't they banning all apps that engage in said activity, instead of just Tiktok?

I suspect the answer is that Tiktok is just doing the same as Facebook etc, and that's unacceptable only because the mined data might go to China.