Is the narrative on other platforms under their control? What does that even mean? US hardly has coherent narrative these days anyway or at least it changes every 4 years.

Regardless what benefits can you see in allowing the CCP to shape US public opinion in any way?

Western "old" media and social media is filled with reporting about how useless and untrustworthy democratic governments are. If that is the narrative that the US government is setting it is weakening itself.

Of course there are very real reasons that citizens of democracies should not trust their government. Not least that in many cases government decision making has been captured by billionaires and corporations. But I very much doubt China or Russia want to see this problem solved.

Honestly don't see much difference between the goals of global corporations and a hostile nation like China or Russia, they both want democracy to fail and governments weakened. But the corporation probably doesn't want total collapse of society. If paths for a hostile government to exert control can be removed I'll happily take the small win.