No illegal content for a social media service from China is a pretty large negative point.
If they allowed illegal content, they'd have been banned even sooner. The best you can hope for is that they do not apply Chinese law outside of China, which seems to be the case, considering they have to make TikTok unavailable in China to avoid people seeing anything that's illegal in China.
The problem with "illegal" is that it is quickly extended to legally questionable. Defending content is not financially viable for any platform, even if you are in the right. In consequence it will be removed.
Twitter, Facebook and co currently attempt a regulatory capture and want to actually scrap their legal protections because they now have their censorship algorithm idiots demanded for some time.