TikTok Ban, good or bad?

As someone in the US who has had their private data leaked multiple times (ive lost count) and is extremely careful when browsing you tube as to not be drawn into a conspiracy ridden rabbit hole, I'm not sure what the point of this tik tok ban is. To me tik tok is social media business as usual. If congress is going to go this hard on a social media company and privacy concerns they should be doing this with all the other companies that pry into our private lives and try their best to manipulate us as well (car makers, appliance manufactures, phone makers, wearbales, ect...) otherwise to me this comes across as the US congress extorting a single company to make billionaires richer. It has been shown time and time again that even US based social media companies are vulnerable to influencing conspiracy theorists and swaying the votes of thousands of people.I feel like we are at the pinnacle of technological ignorance here. Thoughts?