Correct. TikTok is a worse version of Facebook, funnelling data back to the CCP (as required), spying on certain individuals physical locations [0] on the platform, and creators are once again working for its algorithm that can dictate what is seen and unseen, for the content to be seen by billions, just like before.

They hype around it is because it is the current thing.

[0] https://futurism.com/tiktok-spy-locations-specific-americans