I'm still unclear on the question. Is it any more malware than any other time-wasting app? Or is it the same, but Chinese?
I don't doubt that China has no positive intentions for all of the data it's collecting, but I don't really see American firms doing any better with it. It's not like it's collecting your passwords or cracking your bank account. It's just wasting vast amounts of your time, and watching over your shoulder while you do it so that they can do it even better.
Or is there something I'm still mising?