The Chinese state defines Chinese laws so this is basically restating the GP's point that "Tencent is doing this to comply to Chinese laws"
It's technically true for American corporations (which follow American laws created by the American government), but as you mention, it's not quite the same because the American system of government has significantly higher inertia and building consensus is significantly higher effort, so you generally only see the effect in certain industries that span decades-long bi-partisan projects (e.g. military industrial complex)
the political theatre is only when they don't want to do something and delay. the state is swift with pursuing its interests.
I would argue these have already met overwhelming bipartisan consensus over the past few decades (particularly since 9/11). Your average privacy nut (myself included) are not too happy about it, your average person knows nothing about it, but your average senator or governor is strongly in favor.
Americans quite like out-of-sight out-of-mind solutions to problems involving Bad People, even unsavory solutions like mass spying or drone killings. The moment that the national security powers for example start blocking porn or video games, consensus and acceptance would instantly disappear.
Tencent, like all major Chinese corporations, is just a thinly veiled extension of the Chinese state. And I'm sure someone will try a "no u" about Facebook etc. effectively being extensions of the US government but that doesn't change the reality of how all major corps in China operate.